NEW YORK, Feb. 24, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Alcobra Ltd. (“Alcobra” or the“Company”) (NASDAQ: ADHD ) securities between August 13, 2015 and January 17, 2017, inclusive (the “Class Period”).
Investors who have incurred losses in shares of Alcobra Ltd. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased shares of Alcobra Ltd. within the class period and would like to assist with the litigation process, you may, no later than April 18, 2017 , request that the Court appoint you lead plaintiff of the proposed class.
Alcobra is a biopharmaceutical company that focuses on the development and commercialization of oral drug candidates.
The filed complaint alleges that defendants caused the Company to issue materially misleading statements and/or omit material information concerning the Company's second Phase III study for MDX in adults with attention deficit hyperactivity disorder ("ADHD"), the "MDX Evaluation in Adults – Study of Response and Efficacy," or the "MEASURE" study. The complaint alleges these misstatements and omissions by Alcobra violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 17, 2017, Alcobra disclosed that the Company's attention deficit hyperactivity disorder drug, Metadoxine Extended Release, did not satisfy its primary endpoint in a Phase 3 trial.
On this news, Alcobra stock fell over 50%, to close at just $0.94 per share on January 17, 2017.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
