#USA #New York #Class Action #ESSA Pharma #EPIX

Gross Law Firm Initiates Class Action Against ESSA Pharma Inc.

The Gross Law Firm, a well-respected law firm specializing in investor rights, has publicly notified shareholders of ESSA Pharma Inc. (NASDAQ: EPIX) about the initiation of a class action lawsuit. This announcement comes as a critical reaction to allegations regarding misleading statements made by the company, particularly concerning its prostate cancer treatment combining masofaniten and enzalutamide.

Details of the Class Action

Shareholders who acquired EPIX shares during the class period, which spans from December 12, 2023, to October 31, 2024, are strongly encouraged to reach out to the Gross Law Firm. The firm is looking for potential lead plaintiffs to represent the shareholders in this case, although it is important to note that one does not need to be appointed as a lead plaintiff to participate in any recovery from the lawsuit.

Allegations Against ESSA Pharma

The complaint lodged by the Gross Law Firm asserts multiple allegations against ESSA Pharma, including:
1. Misleading Statements: The company allegedly issued statements that were materially false or misleading, particularly regarding the efficacy of masofaniten when used in conjunction with enzalutamide. Investors were led to believe that this combination would show better efficacy than enzalutamide alone, which was not the case.
2. Ineffectiveness of Treatments: Evidence suggests that the combination treatment was less effective in managing prostate cancer than previously communicated by the firm's executives. This raises serious concerns about the integrity of the information provided to investors.
3. Clinical Trial Concerns: The allegations also claim that the M-E Combination Study, which was designed to evaluate the treatment's efficacy, was unlikely to achieve its key endpoints as outlined in its Phase 2 trials. This could have significant ramifications for the company’s reputation and stock value.
4. Overstated Prospects: The defendants in the lawsuit are accused of overstating the clinical, regulatory, and commercial prospects of their treatment, ultimately misleading investors and leading to inflated stock prices based on false premises.

Steps for Shareholders

The deadline to register for participation in the class action is March 25, 2025. Shareholders who wish to protect their investments and seek justice must act promptly. When registering, investors will also gain access to a portfolio monitoring service to keep them informed throughout the case's lifecycle. This service aims to provide shareholders with timely updates about developments related to the lawsuit, ensuring they are fully engaged in the process.

Gross Law Firm’s Commitment

The Gross Law Firm portrays itself as a champion of investor rights, committed to holding corporations accountable for dishonesty and unethical behavior. The law firm's mission is to ensure that companies operate with transparency and that they are held responsible when misleading information results in financial loss for their shareholders. They emphasize that participating in the lawsuit involves no cost or obligation to the investors, making it accessible for those affected.

For further details regarding the lawsuit and to register, shareholders can visit this link.

How to Contact the Gross Law Firm

Interested parties can reach out to the Gross Law Firm directly at their New York office, located at 15 West 38th Street, 12th Floor, New York, NY 10018. For inquiries, they can be contacted via email at [email protected] or by phone at (646) 453-8903. It is crucial for investors to take action and ensure their voices are heard in this potentially significant lawsuit regarding ESSA Pharma Inc.