NEW YORK, July 24, 2019 /PRNewswire/ -- Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Karyopharm Therapeutics Inc. ("Karyopharm" or the "Company") (NASDAQ: KPTI) from March 2, 2017, through February 22, 2019 (the "Class Period"). The lawsuit, filed in the United States District Court for the District of Massachusetts, seeks to recover Karyopharm shareholders' investment losses under the Securities Act of 1933 and the Securities Exchange Act of 1934.
If you purchased Karyopharm securities, and/or would like to discuss your legal rights and options please visit Karyopharm KPTI Shareholder Class Action or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
According to the lawsuit, throughout the Class Period, Defendants' made material misrepresentations and omissions centered on Defendants' claims regarding results from clinical trials for selinexor's treatment of patients with certain types of blood cancer. Defendants claimed that selinexor studies showed that selinexor was "well-tolerated" by patients and explained that there were "no new clinically significant adverse events in the patients receiving selinexor." The Company repeatedly touted the commercial prospects for selinexor and consistently described selinexor as having a "predictable and manageable tolerability profile" and a "very nice safety profile." In reality, selinexor was unsafe with limited efficacy.
The truth was revealed on February 22, 2019, when the FDA released a briefing document expressing serious concerns about the safety and efficacy of selinexor. On this news the company's stock price fell from $8.97 per share to $5.07 per share.
If you purchased KPTI securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/karyopharmtherapeuticsinc-kpti-shareholder-class-action-lawsuit-stock-fraud-156/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than September 23, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE Bernstein Liebhard LLP