An investigation on behalf of investors in Otonomy Inc (NASDAQ:OTIC) shares over potential wrongdoing at Otonomy Inc was announced and NASDAQ:OTIC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/27/2017 -- An investigation on behalf of investors in shares of Otonomy Inc (NASDAQ:OTIC) was announced concerning possible breaches of fiduciary duties by certain officers and directors at Otonomy Inc.
Investors who purchased shares of Otonomy Inc (NASDAQ:OTIC) and currently hold any of those NASDAQ:OTIC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Otonomy directors breached their fiduciary duties and caused damage to the company and its shareholders.
On August 30, 2017, Otonomy Inc announced that its Phase 3 clinical trial of OTIVIDEX missed its primary endpoint. Otonomy, Inc. also announced an immediate suspension of all development activities for OTIVIDEX. David A. Weber, President and CEO of Otonomy, Inc, said "We are greatly disappointed by these results, and surprised by both the higher placebo response and lower OTIVIDEX improvement than observed in our previous trials." Shares of Otonomy Inc (NASDAQ:OTIC) declined on September 1, 2017 to $3.40 per share.
Those who purchased shares of Otonomy Inc (NASDAQ:OTIC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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