| COMPANY |
Synergy Pharmaceuticals, Inc. |
| COURT |
United States District Court for the Eastern District of New York |
| CASE NUMBER |
18-cv-00873 |
| JUDGE |
The Honorable Ann Marie Donnelly |
| CLASS PERIOD |
November 10, 2016 - November 13, 2017 |
| SECURITY TYPE |
All Securities |
Case Background:
On February 8, 2018, the initial complaint in this securities class action was filed against Synergy Pharmaceuticals, Inc. (“Synergy” or the “Company”), and certain of Synergy’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all investors who purchased or acquired Synergy securities between November 10, 2016 and November 13, 2017, (“Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements including: (1) the statements in SEC filings, presentations, press releases, and conference calls concerning Trulance's diarrhea side effect profile; and (2) the CRG Loan, whose truth they knowingly or recklessly disregarded when they failed to disclose material facts.
Current Status of Case:
On January 28, 2021, Defendants filed a Motion to Dismiss the Amended Complaint. On September 30, 2021, the Court granted Defendants' Motion to Dismiss. On August 25, 2023, the Second Circuit Court of Appeals affirmed in part and vacated in part the Motion to Dismiss order. Plaintiffs filed a Notice of Voluntary Dismissal on November 8, 2023 in the District Court. This action has concluded.
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: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.