Levi & Korsinsky, LLP announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of shareholders of ProNAi Therapeutics, Inc. (NASDAQ: DNAI) who purchased shares between July 15, 2015 and June 6, 2016 (the “Class Period”).
The complaint alleges that, throughout the Class Period, ProNAi made materially false and misleading statements about the potential and efficacy of its drug product candidate PNT2258 in the company’s public filings, which caused ProNAi’s stock price to be artificially inflated throughout the Class Period, thus harming investors. On June 6, 2016, ProNai revealed that the Phase 2 clinical trials of PNT2258 failed to produce sufficient efficacy results to justify continued clinical development of the drug and, thus, ProNAi was suspending clinical development of PNT2258. Following this news, shares of ProNAi fell more than 67 percent.
If you suffered a loss in ProNAi you have until January 9, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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