SCYNEXIS, Inc. Class Action Lawsuit - SCYX
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The SCYNEXIS class action lawsuit seeks to represent purchasers or acquirers of SCYNEXIS, Inc. (NASDAQ: SCYX) securities between March 31, 2023 and September 22, 2023, inclusive (the “Class Period”). Captioned Feldman v. SCYNEXIS, Inc., No. 23-cv-22082 (D.N.J.), the SCYNEXIS class action lawsuit charges SCYNEXIS and certain of its top 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 SCYNEXIS 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 email@example.com. Lead plaintiff motions for the SCYNEXIS class action lawsuit must be filed with the court no later than January 8, 2024.
CASE ALLEGATIONS: SCYNEXIS is a biotechnology company which is primarily engaged in the development of ibrexafungerp, a broad-spectrum, intravenous (IV)/oral agent for fungal indications.
The SCYNEXIS class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) the equipment used to manufacture ibrexafungerp was also used to manufacture a non-antibacterial beta-lactam drug substance, presenting a risk of cross-contamination; (ii) SCYNEXIS did not have effective internal controls and procedures, as well as adequate internal oversight policies to ensure that its vendor complied with current Good Manufacturing Practices; and (iii) due to the substantial risk of cross-contamination, SCYNEXIS was reasonably likely to recall its ibrexafungerp tablets and halt its clinical studies.
The SCYNEXIS class action lawsuit further alleges that on September 25, 2023, SCYNEXIS revealed that following a recent review by GSK plc of the manufacturing process and equipment at the vendor that manufactures the ibrexafungerp drug substance, SCYNEXIS became aware of potential cross contamination of ibrexafungerp with a non-antibacterial beta-lactam drug substance. SCYNEXIS declared it would conduct a recall of BREXAFEMME from the market and place a temporary hold on clinical studies of ibrexafungerp, including a Phase 3 clinical study, until a mitigation strategy and a resupply plan are determined, according to the complaint. The SCYNEXIS class action lawsuit alleges that on this news, the price of SCYNEXIS stock fell more than 41% over two trading sessions.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired SCYNEXIS securities during the Class Period to seek appointment as lead plaintiff of the SCYNEXIS 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 SCYNEXIS class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the SCYNEXIS class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the SCYNEXIS 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.