NEW YORK, Oct. 11, 2018 — Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who purchased or otherwise acquired Trevena, Inc. (NASDAQ: TRVN) securities from May 2, 2018 through October 8, 2018 (the “Class Period”). Investors have until December 10, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period, defendants made false and misleading statements and failed to disclose to investors material adverse facts about the company’s interactions with the FDA. Specifically, Trevena is alleged to have misled its shareholders to believe that the company’s April 28, 2016 “End-of-Phase 2 Meeting” with the FDA was far more successful than it actually was. The company did so by issuing a press release entitled “Trevena Announces Successful End-of-Phase 2 Meeting with FDA and Outlines Phase 3 Program for Oliceridine” on May 2, 2016, in which the company announced that it had “reached general agreement” with the FDA on key elements of its Phase 3 program for oliceridine (TRV 130), and was “very pleased” with the outcome of its discussions with the FDA. In reality, the FDA disagreed with Trevena on several key factors relating to whether oliceridine would ultimately be approved for commercial distribution. Trevena’s filings therefore concealed the true risks faced by the company in gaining ultimate FDA approval.
If you purchased Trevena securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Trevena lawsuit, please go to https://bespc.com/trvn/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.