Full Press Release Details
SAN DIEGO, March 28, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.
What if I purchased Harmony common stock? If you purchased Harmony common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or call (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? Scorpion Capital, issued a report on Harmony Biosciences on March 28, 2023, before the market opened. According to the report, Harmony Biosciences' drug, Wakix (pitolisant), poses serious health risks to patients, including sudden cardiac death. The report further alleges that the Company obtained approval for Wakix from foreign nations with questionable drug safety controls, such as Russia, before using those approvals to deceive the United States Food & Drug Administration (FDA) into approving the drug.
Additionally, the report alleges that Harmony Biosciences engaged in unethical practices, including kickback schemes to incentivize physicians to prescribe its drugs, false advertising, and maintaining a sham patent portfolio. These practices may have allowed Harmony Biosciences to gain an unfair advantage over competitors in the market.
Following this news, Harmony Bioscience’s stock price fell as much as $11.34 per share, or 27.33%, in intraday trading.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Jim Baker, Lead Securities Analyst