Faruqi & Faruqi Urges PepGen Investors to Act Amid Class Action Lawsuit Deadline

Faruqi & Faruqi Alerts PepGen Investors on Class Action Deadline

Faruqi & Faruqi, LLP, a prominent national securities law firm, is taking initiative to remind investors of PepGen Inc. (NASDAQ: PEPG) regarding an ongoing class action lawsuit. The firm is particularly focused on individuals who purchased or acquired securities in PepGen from March 7, 2024, to March 3, 2025. Investors have been urged to connect with the firm before the crucial lead plaintiff deadline set for August 11, 2025.

Understanding the Class Action

The lawsuit arises from claims that PepGen and its executives had misrepresented key data related to the company's clinical studies and product effectiveness. Specifically, shareholders allege that the company issued misleading statements which inflated the value and prospects of PepGen’s treatments, particularly PGN-EDO51, used in the treatment of Duchenne Muscular Dystrophy (DMD).

Notably, the allegations specify that PepGen’s executives misled investors regarding the efficacy and safety of PGN-EDO51, as well as the CONNECT2 study, which was deemed critical for regulatory approval by the U.S. Food and Drug Administration (FDA). These misrepresentations contributed to an artificial increase in stock price, which subsequently plummeted as alarming safety announcements regarding clinical trials began to emerge.

Timeline of Events

1. July 30, 2024: PepGen revealed what they claimed were positive clinical results from its CONNECT1 study. However, the actual outcome did not meet market expectations, leading to a significant decline in share value the next day.
2. December 16, 2024: The FDA imposed a clinical hold on PepGen's IND application, raising concerns about the safety of ongoing trials. This announcement saw another decline in share prices.
3. January 29, 2025: Further revelations about safety issues regarding the CONNECT1 study prompted another drop in stock prices as the company navigated scrutiny from regulatory bodies.
4. March 4, 2025: PepGen's decision to pause the CONNECT2 study sent shockwaves through the investor community, resulting in another steep drop in the company's stock.
5. May 28, 2025: The firm discontinued its DMD drug development after failing to achieve target dystrophin levels, further confirming investor fears of mismanagement and unachievable promises.

Importance of Taking Action

The legal landscape is pressing and it is crucial for affected investors to consider their role in this class action. The class action lawsuit seeks to hold PepGen accountable for their alleged deceptive practices, allowing affected investors to potentially recover their losses.

Faruqi & Faruqi emphasizes that any investor affected by these events should consult with them directly. They highlight that taking action as a lead plaintiff could be vital, granting more control over the litigation process. However, participation as an absent class member does not negatively impact recovery rights.

How to Proceed

Investors can understand their legal rights and make informed decisions by contacting the provided legal team through Faruqi & Faruqi. The firm encourages Whistleblowers, former employees, and others with pertinent information related to the case to step forward. This collective effort is essential to foster transparency and accountability within PepGen.

For additional guidance and details about the class action lawsuit, interested parties can visit Faruqi & Faruqi’s website or reach out to partner Josh Wilson at 877-247-4292 or 212-983-9330.

Conclusion

As the August 11 deadline approaches, PepGen investors are encouraged to act promptly. With extensive experience in securities litigation, Faruqi & Faruqi stands ready to assist in navigating this complex and pivotal moment for those affected by the recent turmoil within PepGen. An active response could pave the way for legal redress and enhance the accountability of the company’s executives.