#USA #New York #Class Action #Securities Fraud #ESSA Pharma

ESSA Pharma Inc. Faces Class Action Lawsuit for Securities Law Violations

In a significant development for investors, ESSA Pharma Inc. has been sued in a class action lawsuit alleging violations of securities laws. The lawsuit, facilitated by Levi & Korsinsky, LLP, is aimed at recovering losses incurred by investors between December 12, 2023, and October 31, 2024. With the stock listed on NASDAQ: EPIX, this lawsuit has caught the attention of numerous stakeholders.

Background of the Case

The legal action claims that ESSA Pharma and its executives made misleading statements regarding the efficacy of their prostate cancer treatment regimen, specifically regarding masofaniten in combination with enzalutamide. Investors were allegedly led to believe that this combination therapy demonstrated significant efficacy benefits when, in reality, the evidence suggests otherwise. According to the filed complaint, the defendants purportedly concealed critical information, leading investors to form an inaccurate view of the company's prospects.

Key allegations include:
1. The masofaniten and enzalutamide combination showed no clear efficacy advantage over enzalutamide alone.
2. The combination was purportedly less effective than suggested for treating prostate cancer.
3. The pivotal M-E Combination Study was not likely to meet its defined Phase 2 primary endpoint.
4. The company overstated the clinical and regulatory prospects of masofaniten.
5. Public statements from ESSA Pharma were materially false and misleading throughout the relevant period.

These claims raise serious concerns about the transparency and integrity of communications made by ESSA Pharma to its shareholders.

Next Steps for Affected Investors

Investors who believe they have suffered losses are encouraged to act quickly. The deadline to request the Court's appointment as lead plaintiff is March 25, 2025. What's more, participation in the lawsuit does not necessitate serving as a lead plaintiff to be eligible for potential compensation.

Levi & Korsinsky emphasizes that, for those classified as class members, participation involves no out-of-pocket costs. They have secured substantial settlements for aggrieved shareholders in various high-stakes cases, making them a well-regarded choice for representation in such matters.

Why Choose Levi & Korsinsky?

With over 20 years of experience, Levi & Korsinsky has a track record of recovering hundreds of millions of dollars for their clients. Their dedicated team of over 70 professionals specializes in complex securities litigation, helping investors navigate through the intricacies of such cases. They have consistently ranked among the top securities litigation firms in the United States, according to ISS Securities Class Action Services' Top 50 Report, for multiple years in a row.

If you or someone you know has invested in ESSA Pharma and would like more details regarding the lawsuit or your potential eligibility for participation, it's advisable to get in touch with Joseph E. Levi, Esq. or Ed Korsinsky, Esq. at Levi & Korsinsky, LLP. The firm can be reached at (212) 363-7500 or via email at [email protected]. More information can be found on their website at www.zlk.com.

This case highlights the importance of vigilance and due diligence on the part of investors in the fast-paced world of pharmaceutical securities. As this lawsuit unfolds, affected investors are encouraged to stay informed and involved.