#United States #New York #Class Action #Securities Fraud #BioAge Labs

Investors Encouraged to Join Class Action Against BioAge Labs

Bronstein, Gewirtz & Grossman, LLC, a prominent national law firm, has taken steps to inform investors about a class action lawsuit filed against BioAge Labs, Inc. (NASDAQ: BIOA) and certain executives of the company. Investors who suffered significant losses after the company’s initial public offering (IPO) on September 26, 2024, are being urged to take action.

Overview of the Situation

This lawsuit focuses on allegations that BioAge Labs violated federal securities laws. The firm represents not just large institutional investors but also individual shareholders who purchased BioAge securities as per the registration statement and prospectus related to the IPO.

The complaint claims that the lead product candidate, azelaprag, which BioAge had previously touted in its marketing as a promising option for obesity therapy, has now faced setbacks. Specifically, on December 6, 2024, BioAge shocked shareholders by announcing the discontinuation of the STRIDES Phase 2 clinical trial for azelaprag due to safety concerns that arose from elevated liver enzyme levels in participants.

The Impact on Stock Value

This negative news had immediate repercussions for BioAge’s stock price. On the announcement day, the stock plummeted from $20.09 to $4.65 in just 24 hours, causing considerable financial damage for investors who had relied on the company's representations during the IPO. Such drastic declines highlighted the risks posed to investors who had confidently backed the company's vision.

How to Get Involved

Those who feel impacted by the fallout of these events are encouraged to consider joining the class action lawsuit. This can be done through the law firm's website, where detailed information about the case and how to file a claim is provided. As stated, potential lead plaintiffs must submit their applications by March 10, 2025. Interestingly, participating in the class action doesn’t necessitate serving as a lead plaintiff to have a chance of recovery.

No Cost Involved

Bronstein, Gewirtz & Grossman operates on a contingency fee basis. This means there are no upfront costs for investors, and the firm only recoups its expenses and fees if the case results in a successful recovery for its clients. This model aims to ensure that investors at no point bear the financial burden while pursuing justice.

Why Choose Bronstein, Gewirtz & Grossman?

As a nationally recognized law firm specializing in securities fraud class actions and shareholder derivative suits, Bronstein, Gewirtz & Grossman has successfully recovered hundreds of millions of dollars for investors across the country. Their experience and commitment to investor rights set them apart in handling complex class action suits.

Stay Updated

Investors interested in this case can keep up with developments and updates by following Bronstein, Gewirtz & Grossman on LinkedIn, X, Facebook, or Instagram. It is vital for investors to stay informed as the situation unfolds and their rights evolve within this legal framework.

In summary, if you are a BioAge shareholder facing significant losses, now is the time to consider your options and potentially join this class action lawsuit to advocate for your financial rights and recovery.