A lawsuit was filed on behalf of investors in Trevena, Inc. (NASDAQ: TRVN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/30/2018 -- An investor, who purchased shares of Trevena, Inc. (NASDAQ: TRVN), filed a lawsuit over alleged violations of Federal Securities Laws by Trevena, Inc..
Investors in shares of Trevena, Inc. (NASDAQ: TRVN) should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On May 2, 2016, Trevena, Inc announced that it had "reached general agreement" with the FDA on key elements of its Phase 3 program for oliceridine (TRV130) and was "very pleased" with the outcome of its discussions with the FDA.
On October 9, 2018, minutes from the FDA's April 28, 2016 meeting with Trevena, Inc were released and showed that the FDA:
- "did not agree with the proposed dosing in the Phase 3 studies";
- "did not agree with the proposed primary endpoint"; and
- "did not agree with the proposed non-inferiority (NI) margin for comparing morphine to oliceridine.
- Shares of Trevena, Inc. (NASDAQ: TRVN) declined form $3.44 per share on October 5, 2018 to as low as $0.88 per share on October 10, 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of Trevena, Inc. (NASDAQ: TRVN) common shares between May 2, 2016 and October 8, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 2, 2016 and October 8, 2018, Trevena misled its shareholders to believe that its April 28, 2016 End-of-Phase 2 Meeting with the United States Food and Drug Administration ("FDA") was far more successful than it actually was.
Those who purchased shares of Trevena, Inc. (NASDAQ: TRVN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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