Sage Therapeutics Inc. May Have Violated Securities Law Violations And Investors Are Encouraged To Contribute To A Lawsuit
Rhea-AI Summary
The Schall Law Firm has announced a class action lawsuit against Sage Therapeutics, Inc. (NASDAQ:SAGE) for alleged violations of securities laws. Investors who purchased Sage securities between April 12, 2021, and July 23, 2024, are encouraged to join the lawsuit before October 28, 2024. The complaint alleges that Sage made false and misleading statements about the effectiveness of its drug Zuranolone for treating major depressive disorder (MDD) and SAGE-718 for mild cognitive impairment (MCI). The lawsuit claims that these misrepresentations led to investor losses when the truth about the drugs' efficacy and FDA approval likelihood was revealed.
Positive
- None.
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- Class action lawsuit filed against Sage Therapeutics for alleged securities law violations
- Allegations of false and misleading statements about drug effectiveness
- Potential investor losses due to misrepresentation of Zuranolone and SAGE-718 efficacy
- Risk of legal and financial consequences for the company
News Market Reaction
On the day this news was published, SAGE declined 0.80%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, CA / ACCESSWIRE / September 9, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Sage Therapeutics, Inc. ("Sage" or "the Company") (NASDAQ:SAGE) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between April 12, 2021 and July 23, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before October 28, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Sage's Zuranolone proved to be less effective in the treatment of major depressive disorder ("MDD") than the Company had touted to investors. The FDA was unlikely to approve an NDA for Zuranolone. The Company's SAGE-718 was less effective in treating mild cognitive impairment ("MCI") than the company led shareholders to believe. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Sage, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE: The Schall Law Firm
View the original press release on accesswire.com
FAQ
What are the allegations against Sage Therapeutics (SAGE) in the class action lawsuit?
What is the class period for the Sage Therapeutics (SAGE) lawsuit?
When is the deadline for investors to join the Sage Therapeutics (SAGE) class action lawsuit?
What specific claims does the lawsuit make about Sage Therapeutics' (SAGE) drug Zuranolone?
