NEW ORLEANS, Nov. 17, 2017 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 2, 2018 to file lead plaintiff applications in a securities class action lawsuit against Novan, Inc. (Nasdaq: NOVN ), if they purchased the Company’s shares between September 26, 2016 and January 26, 2017 (the “Class Period”) and/or pursuant to its September 26, 2016 initial public offering (“IPO”). This action is pending in the United States District Court for the Middle District of North Carolina.
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About the Lawsuit
Novan certain of its executives are charged with failing to disclose material information during the class period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had initiated and conducted two identical Phase 3 clinical trials for its lead product candidate, SB204; (ii) in fact, the two SB204 Phase 3 clinical trials were not identical; and (iii) as a result of the foregoing, Novan’s financial statements were materially false and misleading at all relevant times.
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