Important Action Alert for Sage Therapeutics Shareholders
Important Action Alert for Sage Therapeutics Shareholders
Investors in Sage Therapeutics, Inc. should take heed of an upcoming deadline that could greatly affect their rights. The team at Glancy Prongay & Murray LLP is reminding shareholders about the imminent deadline for filing a lead plaintiff motion in a class action lawsuit on behalf of those who acquired Sage securities within a significant timeframe. This alert should serve as a crucial notice to those who may have suffered from recent stock fluctuations.
Understanding the Legal Landscape
Currently, there is a pressing motion concerning the class action suit aimed at protecting the interests of investors who bought shares in Sage Therapeutics (NASDAQ: SAGE) between specified periods. The deadline for filing is set to be soon, and investors are urged to assess their positions carefully. Should you feel that your investments have been adversely affected, reaching out for legal counsel is encouraged. Legal pathways exist to potentially recoup losses under federal securities laws.
Recent Developments Affecting Share Price
Throughout 2023 and into 2024, Sage has encountered several challenges that have impacted its stock value significantly. In August 2023, the FDA's announcement regarding the approval of zuranolone revealed a limiting scope for its use, triggering a steep decline in the stock price. Specifically, the stock fell to nearly 53.6% shortly after the announcement, indicating investor disappointment and leading to substantial losses.
Further Difficulties in Clinical Trials
Moreover, in early 2024, Sage disclosed setbacks from a Phase 2 study related to SAGE-718 for mild cognitive impairment due to Parkinson's Disease. The study results did not meet the anticipated endpoints, further contributing to investor concerns. This resulted in a notable drop in stock valuation, illustrating ongoing risks associated with Sage's developmental projects.
The Implications of the Allegations
The class action asserts that Sage Therapeutics misled investors by making statements that painted an overly optimistic picture of its drug candidate’s effectiveness. The complaint highlights that the management failed to disclose critical information regarding the performance and FDA approval likelihood for key therapies. Investors are encouraged to consider these allegations and how they may relate to their individual investments.
Taking Action as a Shareholder
If you purchased securities of Sage during the specified class period, now is a pivotal moment for taking action. You do not need to take immediate actions unless you wish to actively pursue being appointed as a lead plaintiff. Retaining counsel or staying informed is all that is necessary at this time. However, if you want to learn more about your rights in this class action, it is highly advisable to consult with legal professionals who specialize in securities litigation.
How to Get More Information
Investors seeking further details on this lawsuit can contact Glancy Prongay & Murray LLP, which is dedicated to serving the rights of shareholders. They provide resources and assistance to those looking to pursue their legal options. The firm encourages all affected investors to reach out for more personalized advice tailored to their circumstances.
Frequently Asked Questions
What is the upcoming deadline related to the Sage Therapeutics lawsuit?
The deadline to file a lead plaintiff motion in the class action is approaching, specifically by October 28, 2024.
Who can participate in the class action lawsuit?
Any investor who purchased Sage Therapeutics securities during the specified Class Period is eligible to be part of the lawsuit.
What should I do if I lost money on Sage investments?
If you incurred losses due to the fluctuating stock price of Sage, it is advisable to consult legal counsel to discuss potential recovery options.
How can I contact Glancy Prongay & Murray LLP?
You can reach out to them directly at 310-201-9150 or Toll-Free at 888-773-9224 for more information.
What were the main issues cited in the class action lawsuit?
The lawsuit alleges that the company made materially misleading statements and failed to disclose important facts about its drug candidates and their prospects.
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