Ace1Rx Pharmaceuticals, Inc.
Lead Plaintiff Deadline: 08/09/2021
SUMMARY OF CASE:
A securities class action has been filed against Ace1Rx Pharmaceuticals, Inc. (ACRX) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Ace1Rx securities between March 17, 2020 through February 12, 2021. This case has been filed in the USDC – N.D. CA.
The Complaint alleges that Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically Defendants made false and/or misleading statements and/or failed to disclose that: (i) Ace1Rx had deficient disclosure controls and procedures with respect to its marketing of DSUVIA; (ii) a result, Ace1Rx had been making false or misleading claims and representations about the risks and efficacy of DSUVIA in certain advertisements and displays; (iii) the foregoing conduct subjecte the Company to increased regulatory scrutiny and enforcement; and (iv) as a result, the Company’ public statements were materially false and misleading at all relevant times.