Investors of Applied Therapeutics Urged to Join Class Action Lawsuit by Levi & Korsinsky

Levi & Korsinsky Announces Class Action for Applied Therapeutics Shareholders

Levi & Korsinsky, LLP, a notable law firm specializing in securities litigation, has alerted investors of Applied Therapeutics, Inc. (NASDAQ: APLT) regarding a class action lawsuit aimed at recovering losses caused by alleged securities fraud. This legal action is pertinent to those who suffered financial damage due to significant drops in the company's stock price between January 3, 2024, and December 2, 2024.

Background of the Case

The legal proceedings stem from an incident on November 27, 2024, when Applied Therapeutics revealed it had received a Complete Response Letter (CRL) for its New Drug Application (NDA) concerning their primary drug candidate, govorestat. This correspondence from the FDA indicated severe deficiencies in the clinical application submitted by the company, ultimately leading to a significant decline in the stock price.

Prior to this announcement, APLT shares closed at $10.21 on November 26, but plunged to $8.57 within a day following the CRL disclosure. The drop in stock value didn't stop there; it continued to spiral down to $2.03 by November 29 and further to $1.75 by December 2, marking an overall decline of more than 80% during that period.

After markets closed on December 2, the company compounded investor fears by announcing it had received a “warning letter” from the FDA regarding clinical trial issues. This revelation triggered a subsequent decline in share prices, which fell to $1.69 the next day and continued towards $1.29 by December 5.

What Affected Investors Should Know

If you invested in Applied Therapeutics during the specified timeline and incurred financial losses, you're eligible to join the class action. The deadline to request consideration as a lead plaintiff is February 18, 2025, although participation in potential recovery efforts does not require lead plaintiff status. Importantly, there are no associated costs for those who qualify as class members, meaning investors can seek compensation without having to pay any out-of-pocket expenses.

Levi & Korsinsky has a proven track record of aiding aggrieved shareholders, successfully recovering hundreds of millions of dollars for their clientele within the realm of securities litigation. With a robust team of over 70 professionals and a reputation as one of the top securities litigation firms in the U.S., they are prepared to handle complex cases effectively.

If you wish to gather further information or to initiate your participation, you can reach out directly to their office. Joseph E. Levi, Esq. can be contacted via email at [email protected] or by telephone at (212) 363-7500.

Conclusion

In light of the recent turmoil surrounding Applied Therapeutics, affected investors are encouraged to take swift action. Joining the class action lawsuit can potentially provide a pathway to recover losses incurred due to the unfortunate drop in stock value tied to unfulfilled FDA expectations. Levi & Korsinsky are ready to assist and ensure that investors' rights are upheld as they navigate these troubling times in the pharmaceutical landscape.