Investors in Applied Therapeutics Urged to Join Class Action for Compensation After Heavy Losses

Investors in Applied Therapeutics Face a Class Action

Investors who have suffered losses in Applied Therapeutics, Inc. (NASDAQ: APLT) are encouraged to join a class action lawsuit facilitated by Levi & Korsinsky, LLP. This legal action aims to recover damages for shareholders adversely affected by alleged securities fraud between January 3 and December 2, 2024.

Overview of Allegations

The class action lawsuit revolves around a series of events that led to a dramatic decline in the stock price of Applied Therapeutics. On November 27, 2024, the company revealed that it had received a Complete Response Letter (CRL) from the FDA concerning its New Drug Application (NDA) for its key drug candidate, govorestat. The letter indicated that the FDA found deficiencies in the clinical application, which was a red flag for investors. Following this announcement, Applied Therapeutics’ stock price plummeted from $10.21 per share on November 26 to $8.57 on November 27, and further down to $2.03 by November 29, reflecting an astounding decline of over 80%.

The situation worsened when, on December 2, 2024, the company disclosed that it had also received a warning letter from the FDA. This letter pointed to serious issues in clinical trials, compounding the investors' concerns and leading to additional sell-offs of the stock. From a closing price of $1.75 on December 2, the stock sank to $1.29 by December 5, striking the fears of investors about the company’s future.

The Claims and Next Steps

If you are among those investors who sustained losses in Applied Therapeutics during the specified timeframe, you have until February 18, 2025, to apply for lead plaintiff status in the class action. However, participating in the class action does not necessitate acting as the lead plaintiff to be eligible for potential compensation.

Participation in this legal action is at no cost to you, meaning that class members may be entitled to financial recovery without any required upfront fees or costs. Levi & Korsinsky has built a robust track record over the past two decades, securing hundreds of millions for aggrieved shareholders.

Why Choose Levi & Korsinsky?

The LEVI & KORSINSKY firm has a solid reputation, consistently ranking as one of the top securities litigation firms in the United States according to ISS Securities Class Action Services. With a dedicated team of over 70 professionals, the firm specializes in navigating complex securities litigation, ensuring investors receive the attention and legal prowess they deserve.

For those affected by the developments at Applied Therapeutics, this class action represents a crucial opportunity for recovery. Interested investors can reach out to Joseph E. Levi, Esq. at (212) 363-7500 or email [email protected] for more details.

Conclusion

The class action lawsuit against Applied Therapeutics sheds light on crucial issues within the company that have resulted in significant financial losses for shareholders. It represents an opportunity for affected investors to seek recompense in light of ongoing challenges that the company faces. Don't miss your chance to register and recover your losses – take action before the upcoming deadline!