CORBUS PHARMACEUTICALS HOLDINGS, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts against Corbus Pharmaceuticals Holdings, Inc.

Apr 03, 2019

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NEW YORK,  -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit  has  been  filed  against Corbus Pharmaceuticals Holdings, Inc. (“Corbus” or the “Company”) (Nasdaq: CRBP) in the United States District Court for the District of Massachusetts on behalf of those who purchased or acquired the securities of Corbus between November 14, 2016 and February 28, 2019,  inclusive (the “Class  Period”).


Investors who purchased shares of Corbus Pharmaceuticals Holdings, Inc.  are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.


If you have incurred losses in the shares of Corbus Pharmaceuticals Holdings, Inc.you may, no later than May 13,2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Corbus Pharmaceuticals Holdings, Inc.  


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The filed  Complaint  alleges  Defendants  made  false  and/or  misleading  statements and/or failed  to disclose  that:



  • Corbus improperly  changed the  primary efficacy endpoint for  the clinical  study of its  drug candidate,  Lenabasum, after the results were unblinded to Corbus; 
     

  • Corbus reported a one-sided  p value, not the  traditional two-sided  p value normally  reported in  clinical trials, in an effort to conceal the  fact that the study results did not  have statistical significance; and 
     

  • as a result, Corbus’ public statements  were materially false and misleading at all relevant times.


On February  28,  2019,  an  article entitled  “Corbus  Has  Ties  to  Suspect Investors And A History of Failed Clinical Trials for Lenabasum” was published on  the  website  Seeking  Alpha.   The  article  expressed  the  belief  that lenabasum, Corbus’ lead product candidate,  “has failed every trial,” “has  a history of negative clinical  data,” and “is likely to fail in the  company’s pivotal trial in Scleroderma and Systemic  Sclerosis (SSc) and Phase 2b  trial in cystic fibrosis.”  The article further  alleged  “ties between Corbus . .  . and a  group of  suspect investors  that were  involved during  the  company’s IPO.” 


Following its  publication, Corbus’ stock  price fell  $1.32  per share, or 15.98%, to close at $6.94 per share on February 28, 2019.


Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.


If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at  www.whafh.com.

URL : http://www.whafh.com

Contact Information:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774


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