Sage Therapeutics Investors Urged to Act Before Deadline Approaches

Author: Owen Jenkins Updated: 09-18-2024 02:43 PM

Act Now: Important Deadline for Sage Therapeutics Investors

Investors in Sage Therapeutics, Inc. must take action as an important deadline approaches for a class action lawsuit. The upcoming cutoff for filing a lead plaintiff motion is October 28, and many are feeling the urgency to protect their investments. This class action is focused on shareholders who acquired Sage Therapeutics securities during a defined period.

Understanding the Class Action

The class action lawsuit targets those who purchased Sage Therapeutics, Inc. (NASDAQ: SAGE) shares between specific dates. According to recent filings, those who experienced financial losses due to the company’s actions during this period are encouraged to participate in the lawsuit.

What Led to the Lawsuit?

The root of the lawsuit stems from a series of disappointing developments reported by Sage Therapeutics. The company’s announcement regarding the FDA's response to their New Drug Application for their treatment zuranolone raised concerns among investors. On August 4, it was revealed that zuranolone was only approved for postpartum depression, while the application for treating major depressive disorder was met with a complete response letter, indicating further studies would be necessary. Following this news, Sage’s stock plummeted significantly, illustrating the market’s response to the announcement.

Subsequent Setbacks

In April of the following year, another blow came when Sage disclosed that the Phase 2 study for SAGE-718 did not achieve significant positive outcomes. These developments contributed to a notable drop in stock price, demonstrating the ongoing challenges faced by the company.

The Impact on Shareholders

The series of negative disclosures from the company has resulted in significant losses for many investors. The lawsuit contends that the company's leadership made materially false and misleading statements about its products' efficacy and development timelines, which ultimately misled shareholders regarding the company's prospects.

Next Steps for Investors

If you are a shareholder who has experienced losses due to the aforementioned issues with Sage Therapeutics, it is crucial to consider your legal options. You may contact legal representatives who specialize in this area to discuss your involvement in the class action lawsuit. Filling out your details can allow you to join your fellow investors in seeking potential recovery.

Contact Information

Those interested in learning more about their rights can reach out to legal representatives at Glancy Prongay & Murray LLP for assistance. You can also explore the firm's website for additional information on how to proceed.

Frequently Asked Questions

What is the deadline for joining the class action?

The deadline to file a lead plaintiff motion is October 28, 2024.

Who can join the class action lawsuit?

Any investor who purchased Sage Therapeutics securities during the specified class period can join the lawsuit.

What claims are being made in the lawsuit?

The lawsuit alleges that Sage Therapeutics misled investors about the efficacy of its drugs and failed to properly disclose material adverse facts.

How has the stock price been affected?

The stock price has seen significant declines corresponding with negative news, resulting in substantial losses for investors.

What should I do if I want to participate?

Interested investors should gather their purchase information and contact a legal representative to discuss their options.

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