Aldeyra Therapeutics, Inc. Class Action Lawsuit - ALDX
Case Summary
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The Aldeyra class action lawsuit seeks to represent purchasers or acquirers of Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) securities between March 17, 2022 and June 20, 2023, inclusive (the “Class Period”). Captioned Paice v. Aldeyra Therapeutics, Inc., No. 23-cv-11737 (D. Mass.), the Aldeyra class action lawsuit charges Aldeyra and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Aldeyra class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Aldeyra class action lawsuit must be filed with the court no later than September 29, 2023.
CASE ALLEGATIONS: Aldeyra is a biotechnology company that develops and commercializes medicines for immune-mediated diseases. Aldeyra is currently developing ADX-2191 for the treatment of primary vitreoretinal lymphoma cancer, proliferative vitreoretinopathy, and retinitis pigmentosa, as well as rare retinal diseases characterized by inflammation and vision loss. In December 2022, Aldeyra submitted a new drug application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for ADX-2191.
The Aldeyra class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Aldeyra’s NDA did not include adequate and well-controlled investigations and thus failed to show substantial evidence of ADX-2191’s effectiveness; (ii) as a result, the FDA was unlikely to approve the NDA in its current form; and (iii) accordingly, Aldeyra had overstated ADX-2191’s clinical and/or commercial prospects.
On June 21, 2023, Aldeyra announced that it received a Complete Response Letter from the FDA regarding Aldeyra’s NDA for ADX-2191. Specifically, Aldeyra revealed that “[a]lthough no safety or manufacturing issues with ADX-2191 were identified, the FDA stated that there was a ‘lack of substantial evidence of effectiveness’ due to ‘a lack of adequate and well-controlled investigations’ in the literature-based NDA submission.” On this news, the price of Aldeyra stock fell more than 27%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Aldeyra securities during the Class Period to seek appointment as lead plaintiff in the Aldeyra class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Aldeyra class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Aldeyra class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Aldeyra class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.