Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Corbus Pharmaceuticals Holdings, Inc. (Corbus or the Company) (NASDAQ: CRBP) securities between November 14, 2016 and February 28, 2019, inclusive (the Class Period). Corbus investors have until May 13, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Corbus investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On February 28, 2019, an article was published on Seeking Alpha alleging that Corbus has ties to investors convicted of or alleged to have committed securities fraud and that its drug candidate, lenabasum, is believed to have failed its major trials in [systemic sclerosis] and [cystic fibrosis]. On this news, shares of Corbus fell $1.32 per share or nearly 16% to close at $6.94 per share on February 28, 2019, thereby injuring investors.
The Complaint in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus; (2) Corbus reported a one-sided p value, not the traditional two-sided p value normally reported in clinical trials, in an effort to conceal the fact that the study results did not have statistical significance; and (3) as a result, Corbus public statements were materially false and misleading at all relevant times.
If you purchased shares of Corbus, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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