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Levi & Korsinsky Calls for Lead Plaintiff in Applied Therapeutics Lawsuit Amid Securities Fraud Allegations

Class Action Lawsuit Announcement for Applied Therapeutics

Levi & Korsinsky, LLP has issued a notification to shareholders of Applied Therapeutics, Inc. regarding a pending class action lawsuit. The firm aims to represent investors who have faced significant losses due to alleged securities fraud that transpired between January 3, 2024, and December 2, 2024. Investors impacted by specific events during this timeframe are encouraged to take action before the deadline of February 18, 2025.

Background of the Case

According to the filed complaint, a pivotal moment arose on November 27, 2024, when Applied Therapeutics released a press update about receiving a Complete Response Letter (CRL) from the FDA regarding their New Drug Application (NDA) for their lead drug candidate, govorestat. The FDA's CRL signified that the application could not be approved in its existing condition due to notable deficiencies identified in the clinical data provided.

This announcement led to an immediate and drastic downturn in Applied Therapeutics' stock value. The stock, which closed at $10.21 on November 26, plummeted to $8.57 the next day, and continued to nosedive, ultimately hitting $1.75 by December 2, marking a loss exceeding 80% of its market value. Adding to the dire situation, the company later revealed it had received a warning letter from the FDA concerning the issues related to their clinical trials, exacerbating the stock's decline. Following the disclosure of the warning letter, shares fell to as low as $1.29 by December 5, 2024.

How to Participate

Investors who believe they were adversely affected during the relevant period have until February 18, 2025, to request the court to appoint them as lead plaintiffs in the class action. However, it’s important to note that potential recovery does not hinge on being appointed as a lead plaintiff.

What makes this opportunity particularly compelling is that eligible class members may obtain compensation with no upfront costs or fees. This means that no financial burden is placed on those who choose to participate, making it an accessible pathway for recovery.

The Track Record of Levi & Korsinsky

Levi & Korsinsky brings over 20 years of experience and a proven track record of success in securities litigation. The firm has recovered hundreds of millions of dollars for wronged investors and has consistently ranked as a leading firm in securities class action cases in the United States. Levi & Korsinsky's team comprises over 70 professionals dedicated to advocating for their clients in complex legal matters.

For victims of the Applied Therapeutics stock decline and those who wish to explore their legal options, Levi & Korsinsky encourages them to reach out for a compassionate consultation. Investors can directly contact Joseph E. Levi, Esq., or Ed Korsinsky, Esq., via email or telephone for further assistance.

Conclusion

As the deadline approaches, affected shareholders are urged to act swiftly to ensure their voices are heard in this crucial legal proceeding. For more details, you can reach Levi & Korsinsky at their New York office, where a team of experienced professionals is prepared to help navigate through this tumultuous time.