Levi & Korsinsky announces it has commenced an investigation of Seres Therapeutics, Inc. (NASDAQGS: MCRB) (“Seres”) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
On July 29, 2016, the Company announced that its Phase 2 clinical study for ECOSPOR did not meet its primary endpoint. Following this news, Seres shares opened trading down 76% on August 1, 2016. Two days before the announcement, on July 27, 2016, Seres’ President, Chief Executive Officer, and Chairman of the Board sold 20,000 shares at $35 per share for gross proceeds of $700,000.
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