Investors Urged to Join Class Action Against Applied Therapeutics for Recent Losses
Class Action Alert for Applied Therapeutics, Inc. (APLT)
In a significant legal development, Levi & Korsinsky, LLP has advised investors in Applied Therapeutics, Inc. (NASDAQ: APLT) regarding a class action securities lawsuit aimed at recovering losses incurred by shareholders. This legal move follows alarming revelations about the company's performance and communications that led to widespread investor losses.
Background of the Case
The class action lawsuit encompasses a period between January 3, 2024, and December 2, 2024. This time frame is crucial, as it captures the events leading to the substantial stock decline faced by Applied Therapeutics. On November 27, 2024, the company issued a press release announcing it had received a Complete Response Letter (CRL) from the FDA concerning its New Drug Application (NDA) for govorestat, the company's flagship drug candidate. The letter indicated that the FDA could not approve the NDA due to several deficiencies identified in the clinical application.
The subsequent market reaction was severe. The company's share price plummeted from $10.21 on November 26, 2024, to $8.57 the following day, with further falls resulting in a staggering 80% loss in value, hitting lows of $1.29 by December 5, 2024. Compounding the issue, after trading hours on December 2, 2024, the firm revealed it had received a warning letter from the FDA, addressing the critical clinical trial concerns specific to the CRL. This disclosure further exacerbated investor panic, leading to an even sharper decline in stock prices
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Legal Implications
The lawsuit seeks to represent and recover losses for those negatively affected by the alleged securities fraud perpetrated by Applied Therapeutics during the specified period. The firm encourages individuals who have experienced financial loss due to their investments in APLT to get in touch. Even if one does not wish to be the lead plaintiff, they may still share in any potential recovery.
The deadline for filing to potentially become a lead plaintiff within this class action is February 18, 2025. Those who qualify can participate without bearing any direct costs or fees, ensuring access to justice does not come at an additional financial burden.
About Levi & Korsinsky
Levi & Korsinsky has built a reputable legacy over two decades, recovering hundreds of millions in claims for distressed shareholders. With a dedicated team of over 70 professionals, the firm specializes in complex securities litigation and has gained recognition as one of the top securities firms in the United States. They are consistently highlighted in the ISS Securities Class Action Services' Top 50 Report.
Next Steps
If you are an investor of Applied Therapeutics who suffered significant losses, consider contacting Joseph E. Levi, Esq. directly via email or by telephone to discuss your options. Further details are available through their website, where interested parties can also access the lawsuit submission form.
Contact Information
- - Joseph E. Levi, Esq.
Phone: (212) 363-7500
An opportunity for affected shareholders to pursue justice and compensation is now within reach, but action must be taken swiftly to ensure your rights are protected under this class action lawsuit.
Topics Financial Services & Investing）
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