Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Veru Inc. (VERU) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Veru Inc. (“Veru” or the “Company”) (NASDAQ: VERU) common stock between May 11, 2022 and November 9, 2022, inclusive (the “Class Period”). Veru investors have until February 6, 2023 to file a lead plaintiff motion.

If you suffered a loss on your Veru investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/veru-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On November 9, 2022, the Pulmonary-Allergy Drugs Advisory Committee of the FDA voted against Veru’s Emergency Use Authorization (“EUA”) for its COVID-19 treatment, sabizabulin, explaining that there was “no direct evidence to support [sabizabulin’s] antiviral activity.”

On this news, Veru’s stock price fell $8.04, or 53.6%, to close at $6.97 per share on November 10, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) misled its shareholders to believe that the data from the Phase 3 trial was sufficient to support EUA and even the submission of a New Drug Application without any further studies; (2) concealed the true risks faced by the Company in gaining approval for its EUA request; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Veru common stock during the Class Period, you may move the Court no later than February 6, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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