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Shareholder Class Action Filed Against Cempra, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Cempra, Inc. (“Cempra”) (NASDAQ: CEMP) securities between May 1, 2016 and November 1, 2016, both dates inclusive (the “Class Period”).

Cempra investors may receive additional information about the case by clicking the link "Join this Class Action" above. 


According to the complaint, Cempra is a clinical-stage pharmaceutical company, focusing on developing antibiotics to meet medical needs in the treatment of bacterial infectious diseases in North America. One of its lead product candidates is solithromycin (CEM-101), which is in Phase III clinical trials for the treatment of community acquired bacterial pneumonia, as well as for uncomplicated bacterial urethritis.

The Class Period commences on May 1, 2016, when Cempra issued a press release announcing the completion of its rolling submission of the company’s New Drug Application (“NDA”) for solithromycin to the FDA.

According to the complaint, on November 2, 2016, the FDA posted on its website a preliminary review of solithromycin. The FDA reported that “[a] significant safety signal for hepatotoxicity was observed in the solithromycin development program,” and there was concern for “the high rate of infusion site-related reactions.” 

Following this news, Cempra stock fell $11.35, or 60.86%, to close at $7.30 on November 2, 2016.

On November 4, 2016, Cempra issued a press release announcing that NASDAQ has halted trading of the company’s common stock. Cempra also announced that the FDA’s Antimicrobial Drugs Advisory Committee (“AMDAC”) would meet that day to discuss the safety and efficacy of solithromycin to treat community-acquired bacterial pneumonia.

The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (i) Cempra’s lead product candidate solithromycin posed significant safety risks for hepatotoxicity; and (ii) as a result of the foregoing, Cempra’s public statements were materially false and misleading at all relevant times.

If you are a member of the class described above, you may no later than January 3, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.


A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com


Please complete this form and list your purchase and sale transaction(s) Cempra, Inc. (“Cempra”) (NASDAQ: CEMP) securities between May 1, 2016 and November 1, 2016, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Cempra, Inc. prior to the class period?
Are you a current or former employee of Cempra, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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