Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Tesaro, Inc. (NASDAQGS: TSRO) securities.
If you suffered a loss on your investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 04 2016 - Nov 14 2016
CASE DETAILS:
(i) notwithstanding the completion of the July Public Offering, Tesaro’s liquidity position was insufficient to meet its cash flow requirements and fund its existing operations; (ii) accordingly, unbeknownst to investors, an additional public offering of Tesaro common stock was imminent; and (iii) as a result, Tesaro’s public statements were materially false and misleading at all relevant times.
On July 7, 2016, Tesaro announced the closing of a previously-announced underwritten public offering. Then on November 14, 2016, Tesaro announced another proposed public offering. Following this news, on November 15, 2016, Tesaro stock fell more than 11 percent to close at $131.04 per share.
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