An investor in NASDAQ:KMPH shares filed a lawsuit in Iowa over alleged violations of Federal Securities Laws by KemPharm Inc in connection with the company’s April 16, 2015 Initial Public Offering.
Investors who purchased shares of KemPharm Inc (NASDAQ:KMPH) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff , that the defendants violated Federal Securities Laws in connection with the company’s April 16, 2015 Initial Public Offering (“IPO”).
The plaintiff claims in December 2015, KemPharm Inc submitted a New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for Apadaz.
The plaintiff alleges that Apadaz was intended to be labeled as an “abuse-deterrent” opioid product that offers equivalent efficacy to the existing standard-of-care products, but with reduced addictive effect and that such labeling would give the drug a competitive advantage in the market for painkillers.
On May 5, 2016, KemPharm Inc announced that the Anesthetic and Analgesic Drug Products Advisory Committee and the Drug Safety and Risk Management Advisory Committee of the FDA had reviewed and voted on Apadaz, determining by a vote of 16 to 4 that Apadaz should be approved for its proposed indication of the management of acute pain that requires an opioid, but voted 18 to 2 against inclusion of abuse deterrent labeling for the product. Shares of KemPharm Inc (NASDAQ:KMPH) declined from $18.53 per share in late April 2016 to as low as $3.69 per share in July 2016.
On January 31, 2017, 2016, NASDAQ:KMPH shares closed at $3.55 per share
Those who purchased NASDAQ:KMPH shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com