An investigation was announced for investors in NASDAQ:STML shares concerning potential breaches of fiduciary duties by certain directors and officers of Stemline Therapeutics Inc was announced.
Investors who are current long term investors in Stemline Therapeutics Inc (NASDAQ:STML) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in NASDAQ:STML stocks follows a lawsuit filed against Stemline Therapeutics Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:STML stocks, concerns whether certain Stemline Therapeutics directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that a cancer patient in a Stemline Therapeutics Inc clinical trial tied to SL-401 died from a severe side effect on January 18, 2017, and that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
New York based Stemline Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing oncology therapeutics. Stemline Therapeutics Inc went public in early 2013. Shares of Stemline Therapeutics Inc (NASDAQ:STML) grew from $4.20 per share in February 2016 to as high as $14.25 per share on January 11, 2017.
On January 19, 2017, Stemline Therapeutics Inc announced the proposed public offering of common stock.
On January 20, 2017, Stemline Therapeutics Inc announced the pricing of the public offering of 4.5 million shares of its common stock at a price of $10.00 per share, with expected gross proceeds of $45 million.
On February 2, 2017, it was reported that a cancer patient in a clinical trial died on January 18, 2017 from a severe side effect tied to Stemline’s drug SL-401, which was not disclosed to investors who bought into Stemline’s public offering.
Shares of Stemline Therapeutics Inc (NASDAQ:STML) dropped to as low as $5.50 per share on February 2, 2017.
Those who purchased shares of Stemline Therapeutics Inc (NASDAQ:STML) 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