Levi & Korsinsky Addresses Shareholders of Applied Therapeutics Amid Class Action Timeline
Legal Action Alert: Applied Therapeutics Investors
Levi & Korsinsky, LLP, a prominent law firm specializing in shareholder rights, has officially notified the investors of Applied Therapeutics, Inc. (NASDAQ: APLT) regarding a class action lawsuit that targets alleged securities fraud. The claims focus on the period between January 3, 2024, and December 2, 2024, when the company faced significant turmoil in its stock performance.
Background of the Lawsuit
The lawsuit seeks to obtain compensation for individuals who experienced financial losses due to alleged fraudulent activities connected with Applied Therapeutics. The legal action has garnered attention since the company’s fortunes declined dramatically following critical announcements related to its leading drug candidate, govorestat.
On November 27, 2024, the firm revealed it had received a Complete Response Letter (CRL) from the FDA concerning its New Drug Application (NDA) for govorestat. This CRL indicated that regulatory reviewers could not approve the NDA in its current form, citing significant concerns regarding the clinical trial data. Consequently, the stock price plummeted from $10.21 to $8.57 on November 27, marking a dramatic fall within just a single day.
Further compounding the investors' panic, Applied Therapeutics disclosed a
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