SAN DIEGO, CA / ACCESSWIRE / October 29, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares.
Investors, who purchased shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) in March 2016 or earlier and continue to hold NASDAQ:LXRX shares, have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On January 17, 2019, Lexicon announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA (the "Advisory Committee") had "voted eight to eight on the question of whether the overall benefits of [Lexicon's product] Zynquista (sotagliflozin) outweighed the risks to support approval."
On January 29, 2019, a lawsuit was filed against Lexicon Pharmaceuticals, Inc. over alleged Securities Laws Violations. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the data from Lexicon's Phase 3 clinical trials assessing the safety and efficacy of Sotagliflozin in treating type 1 diabetes were not as positive as Lexicon represented, that the health risks posed by Sotagliflozin were severe enough to threaten its FDA approval prospects, and that as a result, Lexicon's public statements were materially false and misleading at all relevant times. On July 30, 2019, an amended complaint was filed and on September 30, 2019, the defendants filed their motion to dismiss the case. The case is currently pending in Texas.
Those who purchased Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.