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Investigation
03/01/2021
Initial Lawsuit
03/01/2021
Lawsuit Progression
05/06/2021
Plaintiff brings this securities class action on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Aquestive securities between December 2, 2019 and September 25, 2020, both dates inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) data included in the Libervant NDA submission showed a lower drug exposure level than desired for certain weight groups;
(ii) the foregoing significantly decreased the Libervant NDA’s approval prospects;
(iii) as a result, it was foreseeable that the FDA would not approve the Libervant NDA in its current form; and
(iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
