NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Orphazyme A/S (NASDAQ: ORPH): (1) pursuant and/or traceable to Orphazyme’s September 29, 2020 initial public offering (the “IPO” or “Offering”); and/or (2) between September 29, 2020 and June 18, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 7, 2021.
SO WHAT: If you purchased Orphazyme securities pursuant and/or traceable to the IPO and Offering documents and/or Orphazyme securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Orphazyme class action, go to http://www.rosenlegal.com/cases-register-2119.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the Offering documents and defendants during the Class Period made false and/or misleading statements and/or failed to disclose that: (1) arimoclomol was not as effective in treating Inclusion Body Myositis (“IBM”) as defendants had represented; (2) arimoclomol was not as effective in treating Amyotrophic Lateral Sclerosis (“ALS”) as defendants had represented; (3) the arimoclomol new drug application (“NDA”) for Niemann-Pick disease type C (“NPC”) was incomplete and/or required additional evidence and data to support the benefit-risk assessment of that NDA; (4) as a result, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the arimoclomol NDA for NPC in its present form; (5) Orphazyme’s overall business prospects, as well as arimoclomol’s commercial prospects, were significantly overstated; and (6) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Orphazyme class action, go to http://www.rosenlegal.com/cases-register-2119.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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