RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
Paramount Skydance Secures $24B from Gulf Sovereign Wealth Funds for Warner Bros. Discovery Takeover 
U.S. Automakers Push Back Against EU Rules Blocking American Trucks from European Market 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
MATCH Act Targets ASML and Chinese Chipmakers in New U.S. Export Crackdown 
UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire 
Apple Turns 50: From Garage Startup to AI Crossroads 
Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
Annie Altman Amends Sexual Abuse Lawsuit Against OpenAI CEO Sam Altman 
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 
Tesla Q1 2026 Deliveries Miss Estimates as AI Strategy Takes Center Stage 
SpaceX IPO: Retail Investors to Play Historic Role in Record-Breaking Public Offering 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
NEW YORK, Nov. 17, 2016 -- Safirstein Metcalf LLP announces that a class action has been filed in the United States District Court for the Middle District of North Carolina on behalf of purchasers of Cempra Inc. ("Cempra") (NASDAQ:CEMP) securities between May 1, 2016 and November 1, 2016 (the "Class Period").
If you purchased Cempra securities during the class period, and would like more information about getting involved in the Cempra Securities Class Action, please contact Sheila Feerick at 1-800-221-0015, or email [email protected]
If you wish to serve as lead plaintiff, you must move the Court no later than January 3, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The Complaint alleges that throughout the Class Period, defendants issued false and misleading statements to investors and/or failed to disclose that: (1) solithromycin posed significant safety risks for hepatotoxicity; and (2) as a result of the foregoing, Cempra’s public statements were materially false and misleading at all relevant times.
On November 2, 2016, the United States Food and Drug Administration (“FDA”) posted on its website a briefing document addressing solithromycin. The FDA reported that “[a] significant safety signal for hepatotoxicity was observed in the solithromycin development program,” and there was concern for “the high rate of infusion site-related reactions.” On this news, Cempra stock fell $11.35, or 60.86%, to close at $7.30 on November 2, 2016.
On November 4, 2016, Cempra issued a press release announcing that NASDAQ has halted trading of the Company’s common stock. Cempra also announced that the FDA Antimicrobial Drugs Advisory Committee (“AMDAC”) would meet that day to discuss the safety and efficacy of solithromycin to treat community-acquired bacterial pneumonia.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses it practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
Attorney advertising. Prior results do not guarantee a similar outcome.
Safirstein Metcalf LLP Peter Safirstein, Esq. 1250 Broadway 27th Floor New York, NY 10001 1-800-221-0015 [email protected]
