|Company Name||Minerva Neurosciences, Inc.|
|Class Period||May 15, 2017 to November 30, 2020|
|Motion Deadline||February 8, 2021|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Minerva Neurosciences, Inc. (NASDAQ: NERV). Investors who purchased NERV common stock or other securities between May 15, 2017 and November 30, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email firstname.lastname@example.org or call 617-531-3917. Interested Minerva investors have until February 8, 2021 to apply to be a lead plaintiff.
The case alleges that Minerva and its senior executive made misleading statements to investors and failed to disclose: (i) the truth about the negative feedback received from the FDA concerning the “end-of-Phase 2” meeting for MIN-101; (ii) the Phase 2b study did not use the commercial formulation of MIN-101 and was conducted solely outside of the United States; (iii) the failure of the Phase 3 study to meet its primary and key secondary endpoints rendered that study incapable of supporting substantial evidence of effectiveness; (iv) the Company’s plan to use the combination of the Phase 2b and Phase 3 studies would be “highly unlikely” to support the submission of an NDA; and (v) reliance on these two trials in the submission of an NDA would lead to “substantial review issues” because the trials were inadequate and not well-controlled. It is alleged that when the public was made aware of this news through a series of disclosures, Minerva’s stock price fell, thereby damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Minerva investors have until February 8, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.