Levi & Korsinsky Alerts ESSA Pharma Inc. Investors of Lead Plaintiff Deadline for Securities Fraud Class Action

ESSA Pharma Inc. Class Action Lawsuit

Levi & Korsinsky, LLP has issued a crucial reminder for investors in ESSA Pharma Inc. (NASDAQ: EPIX) regarding a class action securities lawsuit. The notice highlights the approaching deadline of March 25, 2025, for shareholders to request to be appointed as lead plaintiffs in this significant legal proceeding. This lawsuit arises from claims of alleged securities fraud affecting investors who suffered losses during the period from December 12, 2023, to October 31, 2024.

Background on ESSA Pharma Inc.

ESSA Pharma Inc. is a biopharmaceutical entity focusing on developing novel therapies for prostate cancer. The company's key product, masofaniten, has been in the spotlight, especially concerning its efficacy when combined with the standard treatment, enzalutamide. However, the recent lawsuit underscores serious allegations against the company's management regarding misleading information provided to investors about the clinical efficacy of their treatment alternatives.

Allegations in the Complaint

The suit alleges that ESSA's management made several misleading statements that could have significantly altered investor decisions. Key points include:
1. Ineffective Treatment: It is claimed that masofaniten in combination with enzalutamide does not offer a clear efficacy advantage over enzalutamide alone, contrary to what the company had communicated to its investors.
2. Misleading Assessments: The complaint contends that the findings from the M-E Combination Study—a pivotal investigation into prostate cancer treatment—were likely to fail to meet its primary endpoint, casting doubt on the company’s therapeutic claims.
3. Overstated Prospects: Investors were reportedly led to believe in the exaggerated clinical, regulatory, and commercial prospects for masofaniten, thus leading to a false sense of security regarding their investments.

The Path Forward for Investors

Investors who believe they have been adversely affected by these events have until March 25, 2025, to apply to be named as a lead plaintiff in this case. It is crucial to note that one does not need to serve as a lead plaintiff to share in the recovery should the court rule in favor of the investors. Levi & Korsinsky emphasizes that participation in this lawsuit will incur no costs or obligations for class members, allowing potential claimants to pursue justice without financial strain.

Why Choose Levi & Korsinsky?

With over 20 years of experience in securities litigation, Levi & Korsinsky has established a strong track record of securing substantial recoveries for aggrieved shareholders. The firm is recognized as one of the top securities litigation practices in the United States, consistently listed among the leading firms by ISS Securities Class Action Services.

Contact Information

Affected investors or those seeking additional details about the lawsuit are encouraged to contact Joseph E. Levi via email at [email protected] or call at (212) 363-7500. More information on the class action can be found on their website.

This class action lawsuit presents an opportunity for ESSA Pharma investors to seek redress for their financial losses, ensuring that their rights as shareholders are advocated vigorously in light of these serious allegations. Act swiftly to understand your rights and options in this ongoing legal situation, as the deadline approaches.