An investor in NASDAQ:STML shares filed a lawsuit over alleged violations of Federal Securities Laws by Stemline Therapeutics Inc.
Investors who purchased shares of Stemline Therapeutics Inc (NASDAQ:STML) have certain options and for certain investors are short and strict deadlines running. Deadline: April 4, 2017. Stemline Therapeutics Inc (NASDAQ:STML investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Stemline Therapeutics Inc (NASDAQ:STML) securities pursuant and/or traceable to Stemline’s secondary public offering on or about January 20, 2017 and/or publicly traded on the open market between January 19, 2017 and February 1, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that a cancer patient in a Stemline Therapeutics Inc clinical trial tied to SL-401 died from a severe side effect on January 18, 2017, and that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
New York based Stemline Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing oncology therapeutics. Stemline Therapeutics Inc went public in early 2013. Shares of Stemline Therapeutics Inc (NASDAQ:STML) grew from $4.20 per share in February 2016 to as high as $14.25 per share on January 11, 2017.
On January 19, 2017, Stemline Therapeutics Inc announced the proposed public offering of common stock.
On January 20, 2017, Stemline Therapeutics Inc announced the pricing of the public offering of 4.5 million shares of its common stock at a price of $10.00 per share, with expected gross proceeds of $45 million.
On February 2, 2017, it was reported that a cancer patient in a clinical trial died on January 18, 2017 from a severe side effect tied to Stemline’s drug SL-401, which was not disclosed to investors who bought into Stemline’s public offering.
Shares of Stemline Therapeutics Inc (NASDAQ:STML) dropped to as low as $5.50 per share on February 2, 2017.
Those who purchased NASDAQ:STML shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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