Join the Class Action Lawsuit Against Applied Therapeutics by February 2025: Important Updates
Legal Actions and Key Deadlines for Applied Therapeutics Investors
In a significant legal development, Levi & Korsinsky, LLP has alerted investors of Applied Therapeutics, Inc. (NASDAQ: APLT) regarding the filing of a class action lawsuit aimed at rectifying losses incurred due to suspected securities fraud. This lawsuit monitors events from January 3, 2024, through December 2, 2024, a period during which the company's stock faced severe declines linked to essential disclosures about its leading drug candidate.
Background on the Case
The core of the allegation centers around a communications failure regarding govorestat, the company's flagship pharmaceutical product. On November 27, 2024, Applied Therapeutics issued a public statement declaring that the FDA had issued a Complete Response Letter (CRL) concerning their New Drug Application (NDA) for this medication. This letter indicated that the FDA had assessed the application and found it inadequate due to existing deficiencies in the clinical data presented.
The immediate financial repercussions of this announcement were striking. The company's stock, which stood at $10.21 per share the day preceding the news, plummeted to $8.57 by the next trading day, demonstrating an initial decline of roughly 16%. However, the decline escalated dramatically following further disclosures. By December 2, 2024, after the company admitted to receiving a “warning letter” from the FDA concerning clinical trial issues, shares saw an astonishing drop to $1.75, representing over 80% of its initial value over a short period.
The Implications for Investors
Investors suffering losses during this timeframe are encouraged to consider their options regarding the class action lawsuit. The court will accept requests for lead plaintiff appointments until February 18, 2025. All APLT investors from the affected period may share in financial recoveries without incurring any out-of-pocket costs related to their participation. This aspect is particularly appealing as it offers a risk-free opportunity to seek restitution.
Why Choose Levi & Korsinsky?
Levi & Korsinsky boasts over two decades of experience in handling complex securities litigation, significantly advocating for shareholder rights. They have notably secured substantial financial recoveries for aggrieved stakeholders across various cases, ranking consistently in the top tier of securities litigation firms in the United States. Their team, comprising more than 70 professionals, is equipped to navigate the complexities involved in cases like this one.
Next Steps for Affected Investors
If you are an investor impacted by the decline in Applied Therapeutics' stock price, it’s imperative to act before the class action deadline. For inquiries or to seek further consultation, you can reach out to Joseph E. Levi, Esq. at jlevi@zlk.com or call the firm directly at (212) 363-7500. Additionally, interested parties can access the class action lawsuit submission form online.
This ongoing class action holds the potential for significant compensation for those who have experienced losses, highlighting the critical nature of investor vigilance and legal advocacy in volatile market conditions.
Topics Financial Services & Investing）
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