#United States #New York #Class Action #Pomerantz LLP #Applied Therapeutics

Pomerantz Law Firm Issues Shareholder Alert

Pomerantz LLP, a leading law firm with a robust reputation in corporate law, has issued an alert to shareholders of Applied Therapeutics, Inc. regarding a recently filed class action lawsuit. This legal action is aimed at those who have suffered financial losses due to alleged unlawful practices by the company.

Details of the Class Action Lawsuit

The class action concerns claims that Applied Therapeutics and some of its officers and directors may have engaged in securities fraud. Shareholders who believe they have been affected are urged to reach out to the firm for guidance on how to navigate this situation.

The firm has set February 18, 2025, as an important deadline. Shareholders who purchased or acquired securities during the designated Class Period have the opportunity to request appointment as Lead Plaintiff in the case. Potential plaintiffs can easily obtain the official complaint and additional information via the Pomerantz website.

Context Behind the Legal Action

This class action stems from troubling news disclosed by Applied Therapeutics on November 27, 2024, when the company revealed a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application for govorestat. This drug, touted as a novel treatment for Classic Galactosemia, was not approved by the FDA, which cited significant deficiencies in the clinical application as part of its decision. The news led to a dramatic drop in the company's stock price by 16.06%, falling from $10.21 to $8.57 per share.

Moreover, on December 2, 2024, Applied Therapeutics disclosed that it received a warning letter from the FDA, which further implicated clinical trial issues, including concerns about electronic data capture and a dosing error. These revelations compounded the negative sentiment around the stock, resulting in an additional 26.29% decrease in its market value over a short span, bringing shares down to $1.29.

Pomerantz's Legacy

With over 85 years of experience, Pomerantz has established itself as a premier firm in the landscape of securities class-action litigation. Founded by Abraham L. Pomerantz, known as a leader in this field, the firm has successfully recovered billions on behalf of victims of corporate fraud. Pomerantz remains committed to advocating for shareholders and holding companies accountable for any misconduct or breach of fiduciary duties.

How to Get Involved

Shareholders concerned about their investments in Applied Therapeutics are strongly encouraged to get in touch with Pomerantz LLP. They can reach out to attorney Danielle Peyton via email or by calling. Investors should be prepared to provide their contact details and information regarding their share ownership as part of the process to participate in the class action.

For more detailed inquiries or legal representation, interested parties can find further information and resources on the firm’s website Pomerantz LLP. It’s vital for impacted shareholders to act swiftly as critical deadlines are approaching.

Conclusion

As Applied Therapeutics navigates its significant challenges, the Pomerantz class action serves as a pivotal moment for investors aiming to seek justice for their losses. The developments in this case might have lasting implications on the company’s future and the trust of its shareholder base.

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This article is intended for informational purposes only and does not constitute legal advice.
Past results are not indicative of future outcomes.