Press release from Business Wire
Robbins Umeda LLP Announces an Investigation of Aeterna Zentaris Inc.
Friday, June 01, 2012
SAN DIEGO (Business Wire) -- Shareholder rights firm Robbins Umeda LLP, announces an investigation into Aeterna Zentaris Inc. (NASDAQ: AEZS). Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Gregory E. Del Gaizo at (800) 350-6003, firstname.lastname@example.org, or via the shareholder information form on the firm's website.
Robbins Umeda LLP is investigating whether officers and directors at Aeterna Zentaris issued materially false and misleading statements to investors that were designed to deceive the market and artificially inflate the company's stock price. In particular, the firm is examining allegations that senior officials at Aeterna Zentaris misled investors by failing to accurately disclose material information about the prospects of perifosine, its development-stage colon cancer drug.
On April 2, 2012, shares of Aeterna Zentaris plummeted after the company announced that perifosine administered with capecitabine in patients with refractory advanced colorectal cancer failed to improve overall survival versus capecitabine and placebo. Following the emergence of these facts, shares of Aeterna Zentaris lost approximately 66% of their value. After closing at $2.14 per share on March 30, 2012, shares of Aeterna Zentaris common stock closed on April 2, 2012 at just $0.73 per share.
Robbins Umeda LLP highlights that one option available to Aeterna Zentaris shareholders is filing a class action lawsuit on behalf of investors to recover damages incurred as a result of the wrongdoing.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/aeterna-zentaris-inc/
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Robbins Umeda LLP
Gregory E. Del Gaizo
Toll Free 800-350-6003