Pawar Law Group Announces Filing of a Securities Class Action Lawsuit Against SCYNEXIS, Inc. – SCYX

NEW YORK, NY / ACCESSWIRE / March 15, 2017 / The Pawar Law Group announces a class action lawsuit on behalf of SCYNEXIS, Inc. (NASDAQ: SCYX) investors who purchased SCYNEXIS securities: (1) pursuant and/or traceable to SCYNEXIS initial public offering on or about May 2, 2014; and/or (2) from May 2, 2014 through March 2, 2017. The suit is for recovery of investor losses.

To participate in this class action lawsuit, visit the firm’s website at http://pawarlawgroup.com/cases/scynexis-inc/ or email Vik Pawar, Esq. at vik@pawarlawgroup.com or call toll free at (866) 999-0873.

No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the complaint defendants during the Class Period made false and misleading statements and/or failed to disclose that (1) SCYNEXIS’ lead product SCY-078 had substantial undisclosed health and safety risks; (2) consequently, SCYNEXIS had overstated the drug’s approval prospects and/or commercial viability; and (3) as a result, SCYNEXIS’ public statements were materially false and misleading at all relevant times.

On March 2, 2017, SCYNEXIS announced after market closed that the FDA placed a clinical hold on clinical trials for the intravenous formulation of SCYNEXIS’ lead product candidate SCY-078 following a review of three mild-to-moderate thrombotic events in healthy volunteers receiving the IV formulation of SCY-078 at the highest doses and highest concentrations in a Phase 1 study. On this news, share of SCYNEXIS fell $0.57 per share or over 17% to close at $2.70 per share on March 3, 2017, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than May 8, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You may join the case here: http://pawarlawgroup.com/cases/scynexis-inc/ or email Vik Pawar, Esq. at vik@pawarlawgroup.com

Contact:

Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938
vik@pawarlawgroup.com

SOURCE: Pawar Law Group

ReleaseID: 457385