NEW YORK, Nov. 17, 2023 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, announces the reopening of the lead plaintiff appointment process in a class action lawsuit against Axsome Therapeutics, Inc. (“Axsome” or the “Company”) (NASDAQ: AXSM) and certain of its officers. The Class Action, filed in the United States District Court for the Southern District of New York, and docketed under 22-cv-03925 (LGS), is proposed to be brought on behalf of a Class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Axsome common stock between May 10, 2021 and April 22, 2022, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws. Excluded from the proposed Class will be any persons who sold all of the shares acquired during the Class Period prior to April 25, 2022. If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2023.
SO WHAT: If you purchased Axsome common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Axsome class action, go to https://rosenlegal.com/submit-form/?case_id=2221 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the proposed Second Amended Complaint, defendants made false and/or misleading statements and/or failed to disclose that: (1) Axsome’s chemistry, manufacturing, and control (“CMC”) practices were deficient with respect to AXS-07 and its manufacturing process; (2) Axsome was unable to resolve these CMC problems or complete stability studies on additional batches of AXS-07 before it belatedly (after repeated delays in the initially represented timeline) submitted its AXS-07 New Drug Application (“NDA”) in June 2021; (3) accordingly, the U.S. Food and Drug Administration was unlikely to approve the AXS-07 NDA; (4) as a result of all the foregoing, Axsome had overstated AXS-07’s regulatory and commercial prospects; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Axsome class action, go to https://rosenlegal.com/submit-form/?case_id=2221 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
