NEW YORK, NY / ACCESSWIRE / August 14, 2023 / Levi & Korsinsky, LLP notifies investors in Rain Oncology Inc. ("Rain" or the "Company") (NASDAQ:RAIN) of a class action securities lawsuit.
The lawsuit on behalf of Rain investors has been commenced in the United States District Court for the Northern District of California. Affected investors purchased or otherwise acquired certain Rain Oncology Inc. securities between July 20, 2021 and May 19, 2023. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/rain-lawsuit-submission-form?prid=43497&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500. There is no cost or obligation to you.
Rain Oncology Inc. NEWS - RAIN NEWS
CASE DETAILS: According to the filed complaint, on May 22, 2023, the Company announced that milademetan failed to meet its primary endpoint of progression free survival in the MANTRA study. Moreover, the Company announced adverse event findings that, according to analysts, indicated that the dosing schedule had not been optimized prior to commencing the study. In response to the announcement, Rain's stock price substantially dropped from $9.93 per share to $1.22 per share, eliminating approximately $316 million in market capitalization in one day. The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company concealed risks inherent in the design of its Phase 3 MANTRA study particularly with regard to proceeding directly to Phase 3 from Phase 1; and, (ii) as a result, the Company's statements about the trial and the likelihood of FDA approval were materially misleading during the Class Period.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Rain during the relevant timeframe, you have until September 12, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://zlk.com/pslra-1/rain-lawsuit-submission-form?prid=43497&wire=1 or call 212-363-7500 to discuss the case.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP