Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
Apple Turns 50: From Garage Startup to AI Crossroads 
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
Fonterra Admits Anchor Butter "Grass-Fed" Label Misled Consumers After Greenpeace Lawsuit 
UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire 
SoftwareONE Posts 22.5% Revenue Surge in 2025 on Crayon Acquisition 
Samsung Electronics Eyes Record Q1 Profit Amid AI-Driven Chip Boom 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
Paramount Skydance Secures $24B from Gulf Sovereign Wealth Funds for Warner Bros. Discovery Takeover 
Ford Issues Major Recall on Over 422,000 Vehicles Due to Windshield Wiper Defect 
Britain Courts Anthropic Amid US Defense Department Dispute 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
TSMC Japan's Second Fab to Produce 3nm Chips by 2028 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
 & Lead Plaintiff Deadline: November 28, 2016 - EconoTimes)
NEW YORK, Oct. 05, 2016 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Seres Therapeutics, Inc. (“Seres” or the “Company”) (Nasdaq:MCRB) and certain of its officers, on behalf of shareholders who held Seres securities between June 25, 2015 and July 29, 2016.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The complaint alleges that throughout the Class Period, Seres made materially false and misleading statements regarding the potential and efficacy of the Company’s lead drug product candidate SER-109. Specifically, the complaint alleges that Seres advertised and hyped the drug as “novel class of biological drugs” and a potential “first-in-field drug” despite knowledge that the Phase 2 clinical trial of SER-109 would fail to achieve its primary endpoint as compared to placebo.
On July 29, 2016, Seres announced that the Phase 2 clinical trial of SER-109 did not reach its primary endpoint. President and CEO Roger J. Pomerantz in an earnings call also admitted that certain undisclosed modifications had been made to SER-109 formulation before the trial. Following this news, Seres Therapeutics stock dropped from a close of $35.77 per share on July 28, 2016, to a close of just $9.73 on August 1, 2016.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/mcrb or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Seres you have until November 28, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | [email protected]
