The Shareholders Foundation announced that an investigation on behalf of current long-term investors in shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares was launchd over potential breaches of fiduciary duties by certain Eleven Biotherapeutics officers and directors.
Investors who purchased shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Eleven Biotherapeutics officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On May 18, 2015, Eleven Biotherapeutics Inc (NASDAQ:EBIO) announced results from the OASIS study, the company’s first pivotal Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease. Eleven Biotherapeutics Inc said that in this study, EBI-005 did not meet either of these two co-primary endpoints and that there was no statistically significant difference between the EBI-005 treated group and the vehicle control group on the co-primary endpoints or any secondary endpoints.
Shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) declined from $12.51 per share on May 15, 2015, to as low as $2.89 per share on May 18, 2015, respectively $2.73 per share on May 20, 2015.
On June 12, 2015, NASDAQ:EBIO shares closed at $2.85 per share.
Those who purchased shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego