An investigation for investors in NASDAQ:CBYL shares was announced over potential breaches of fiduciary duties by certain directors at Carbylan Therapeutics.
Investors who purchased shares of Carbylan Therapeutics Inc (NASDAQ:CBYL) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Carbylan Therapeutics Inc (NASDAQ:CBYL officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Carbylan Therapeutics Inc went public in early April 2015 and sold in its initial public stock offering 13 million shares of stock, raising $65.0 million in new capital.
On February 01, 2016 Carbylan Therapeutics Inc (NASDAQ:CBYL) announced top-line results from COR1.1, its first Phase III trial of Hydros-TA for the treatment of pain associated with osteoarthritis of the knee.
Then on April 15, 2016, Carbylan Therapeutics Inc (NASDAQ:CBYL) that it has suspended further clinical development of Hydros-TA and that it is actively pursuing a strategic transaction, including a merger or acquisition of the company. As previously announced, Carbylan has engaged Wedbush PacGrow to act as its strategic financial advisor for this process. Shares of Carbylan Therapeutics Inc (NASDAQ:CBYL) declined to as low as $0.58 per share on Aprul 18, 2016.
On October 12, 2016, NASDAQ:CBYL shares closed at $0.461 per share.
Those who purchased NASDAQ:CBYL shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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