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VERU 2-WEEK DEADLINE ALERT: Hagens Berman Encourages Veru Inc. (VERU) Investors with Significant Losses to Contact Firm’s Attorneys Before Feb. 6th Deadline in Securities Fraud Class Action

Monday, January 23, 2023 2 min read
Key Takeaway: Veru Inc. is facing a securities fraud class action as investors with significant losses are urged to act before the February 6 deadline. The allegations suggest that Veru misrepresented the data from its Phase 3 trial for its COVID-19 treatment, sabizabulin. On November 9, 2022, the FDA advisory committee voted against approving the drug under the Emergency Use Authorization pathway, contributing to a 53% drop in Veru's stock price. The law firm Hagens Berman is leading the investigation into these claims.

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CONCERNS & RISKS

  • Investors are being encouraged to join a securities fraud class action due to significant losses.
  • The FDA advisory committee voted against the approval of Veru's COVID-19 drug, impacting investor confidence.
  • Veru's shares plummeted 53% after the negative news regarding their drug submission to the FDA.

Full Press Release Details

SAN FRANCISCO, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Veru Inc. (NASDAQ: VERU) investors with significant losses to submit your losses now.
Class Period: May 11, 2022 – Nov. 9, 2022
Lead Plaintiff Deadline: Feb. 6, 2023
Visit: www.hbsslaw.com/investor-fraud/VERU
Contact An Attorney Now: VERU@hbsslaw.com
Veru Inc. (NASDAQ: VERU) Securities Fraud Class Action:
The complaint alleges that throughout the Class Period, Defendants misrepresented and concealed material adverse facts about the data from the Phase 3 trial and the Company’s interactions with the FDA concerning sabizabulin (VERU-111), its orally administered COVID 19 drug intended to treat hospitalized patients at high risk for acute respiratory distress syndrome.
Specifically, Veru misled investors into believing that the data from the Phase 3 trial was sufficient to support Emergency Use Authorization (“EUA”) and even the submission of a New Drug Application (“NDA”) without any further studies. VERU’s filings therefore concealed the true risks faced by the Company in gaining approval for its EUA request.
Investors learned the truth on Nov. 9, 2022, when Veru announced that the FDA advisory committee (“AdCom”) voted against approving sabizabulin under the agency’s EUA pathway. Separately, AdCom’s briefing document highlighted “several uncertainties in the data that may impact the clinical interpretation of the efficacy results.”
This news sent the price of Veru shares crashing 53% lower in a single trading day.
“We’re focused on investors’ losses and proving Veru misled investors about the sufficiency of data it submitted in support of its sabizabulin EUA and about its communications with the FDA,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Veru and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Veru should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email VERU@hbsslaw.com.
Reed Kathrein, 844-916-0895

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VERU securities class action

Frequently Asked Questions

What is the class period for Veru Inc. securities fraud?

The class period for Veru Inc. securities fraud is from May 11, 2022, to Nov. 9, 2022.

What triggered the decline in Veru's stock price?

Veru's stock price dropped 53% after the FDA advisory committee voted against sabizabulin's EUA.

How can investors participate in the Veru class action?

Investors can submit their losses and discuss their legal rights with Hagens Berman.

What was Veru accused of misleading investors about?

Veru is accused of misleading investors on the data sufficiency for sabizabulin's EUA.

What reward can whistleblowers receive for information?

Whistleblowers providing original information may earn rewards up to 30% of SEC recoveries.

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Last updated: Jan 23, 2023