{"id":396528,"date":"2020-12-09T09:54:50","date_gmt":"2020-12-09T14:54:50","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396528"},"modified":"2020-12-09T09:54:50","modified_gmt":"2020-12-09T14:54:50","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-minerva-neurosciences-inc-nerv","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-minerva-neurosciences-inc-nerv\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Minerva Neurosciences, Inc. (NERV)"},"content":{"rendered":"
\n

NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Minerva Neurosciences, Inc. (\u201cMinerva\u201d or the \u201cCompany\u201d) (NASDAQ: NERV) in the United States District Court for the District of Massachusetts on behalf of those who purchased or acquired the securities of Minerva between May 5, 2017 and November 30, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for Minerva investors under the federal securities laws.<\/p>\n

The Complaint alleges that Defendants made materially false and misleading statements regarding the Company\u2019s business. Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that: (1) the truth about the feedback received from the FDA concerning the \u201cend-of-Phase 2\u201d meeting; (2) the Phase 2b study did not use the commercial formulation of roluperidone and was conducted solely outside of the United States; (3) the failure of the Phase 3 study to meet its primary and key secondary endpoints rendered that study incapable of supporting substantial evidence of effectiveness; (4) the Company\u2019s plan to use the combination of the Phase 2b and Phase 3 studies would be \u201chighly unlikely\u201d to support the submission of an NDA; (5) reliance on these two trials in the submission of an NDA would lead to \u201csubstantial review issues\u201d because the trials were inadequate and not well-controlled; and (6) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

On May 29, 2020, Minerva released the results of its Phase 3 clinical trial. The Company announced that the studied \u201cdoses were not statistically significantly different from placebo at Week 12 on the primary endpoint . . . or the key secondary endpoint.\u201d In other words, the Phase 3 clinical trial failed. On this news, the Company\u2019s stock price plummeted from a May 28, 2020 closing price of $13.47 per share to a May 29, 2020 closing price of just $3.71 per share.<\/p>\n

Investors who purchased or otherwise acquired shares of Minerva during the Class Period should contact the Firm prior to the February 8, 2021 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.\u00a0 If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Minerva Neurosciences, Inc. (\u201cMinerva\u201d or the \u201cCompany\u201d) (NASDAQ: NERV) in the United States District Court for the District of Massachusetts on behalf of those who purchased or acquired the securities of Minerva between May 5, 2017 and November 30, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for Minerva investors under the federal securities laws. The Complaint alleges that Defendants made materially false and misleading statements regarding the Company\u2019s business. Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that: (1) the truth about the feedback received from the FDA concerning the \u201cend-of-Phase … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Minerva Neurosciences, Inc. (NERV)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-396528","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Minerva Neurosciences, Inc. 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