{"id":405284,"date":"2020-12-23T15:14:19","date_gmt":"2020-12-23T20:14:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405284"},"modified":"2020-12-23T15:14:19","modified_gmt":"2020-12-23T20:14:19","slug":"shareholder-alert-robbins-llp-announces-that-genfit-sa-gnft-is-being-sued-for-misleading-shareholders","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-robbins-llp-announces-that-genfit-sa-gnft-is-being-sued-for-misleading-shareholders\/","title":{"rendered":"Shareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders"},"content":{"rendered":"

<\/p>\n

Shareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders<\/b><\/p>\n

SAN DIEGO & CAMBRIDGE, Mass.–(BUSINESS WIRE<\/a>)–
\nShareholder rights law firm Robbins LLP<\/a> announces that a purchaser of Genfit SA American Depository Shares (NASDAQ: GNFT) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Act of 1933 pursuant to the Company\u2019s initial public offering in the U.S., conducted on March 27, 2019 (the “IPO”). Genfit is a biopharmaceutical company that develops therapeutic and diagnostic solutions for metabolic, inflammatory, and autoimmune or fibrotic diseases affecting primarily the liver and gastro-enterology. Genfit’s lead drug candidate is elafibranor.\n<\/p>\n

\nIf you suffered a loss due Genfit SA’s misconduct, click here<\/a>.\n<\/p>\n

Genfit SA (GNFT) Misled Shareholders Regarding the Viability of its Lead Drug Candidate Elafibranor <\/b><\/p>\n

\nAccording to the complaint, Genfit conducted its IPO on March 27, 2019, at the price of $20.32 per share. At the time of the IPO, elafibranor was in a “pivotal” phase 3 clinical trial called “RESOLVE-IT,” which evaluated the efficacy and safety of elafibranor 120mg versus placebo in patients with nonalcoholic steatohepatitis (“NASH”) and fibrosis. Genfit planned to use the data from the RESOLVE-IT study to support the Company\u2019s new drug application to the FDA for elafibranor. The Offering Documents supporting the IPO stated that Genfit had progressed to the phase 3 RESOLVE-IT study based on the positive results from Genfit’s phase 2b study concerning the efficacy elafibranor. Genfit stated that “The[] results provide strong and unequivocal evidence of the beneficial effects of [elafibranor] at 120 mg\/d on the primary endpoint.” Further, the Offering Documents repeatedly stated that elafibranor was “well-positioned” for FDA approval.\n<\/p>\n

\nOn February 20, 2020, post-market, Genfit issued a press release announcing a delay in the release of topline interim results from the RESOLVE-IT study. On this news, Genfit’s stock fell $1.05 per share, or 5.87% over two trading days. Then, on May 11, 2020, during after-market hours, Genfit issued a press release announcing results from an interim analysis of the RESOLVE-IT phase 3 study of elafibranor, disclosing that “[e]lafibranor did not demonstrate a statistically significant effect on the primary endpoint of NASH resolution without worsening of fibrosis.” On this news, Genfit’s ADS price fell 67.73%, or $14.90 per share, to close at $7.10 per share on May 12, 2020.\n<\/p>\n

Genfit SA (GNFT) Shareholders Have Options <\/b><\/p>\n

\nContact us to learn more:
\n
Lauren Levi
\n
(800) 350-6003
\n
llevi@robbinsllp.com
\n<\/a>
Shareholder Information Form<\/a><\/p>\n

\nRobbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Genfit SA settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch<\/a> today.\n<\/p>\n

\nAttorney Advertising. Past results do not guarantee a similar outcome.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201223005515\/en\/<\/a><\/span><\/p>\n

\nLauren Levi
\n
Robbins LLP
\n
5040 Shoreham Place
\n
San Diego, CA 92122
\n
llevi@robbinsllp.com
\n<\/a>
(800) 350-6003
\n
www.robbinsllp.com<\/a><\/p>\n

KEYWORDS:<\/b> California Massachusetts United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Shareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders SAN DIEGO & CAMBRIDGE, Mass.–(BUSINESS WIRE)– Shareholder rights law firm Robbins LLP announces that a purchaser of Genfit SA American Depository Shares (NASDAQ: GNFT) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Act of 1933 pursuant to the Company\u2019s initial public offering in the U.S., conducted on March 27, 2019 (the “IPO”). Genfit is a biopharmaceutical company that develops therapeutic and diagnostic solutions for metabolic, inflammatory, and autoimmune or fibrotic diseases affecting primarily the liver and gastro-enterology. Genfit’s lead drug candidate is elafibranor. If you suffered a loss due Genfit SA’s misconduct, click here. … <\/p>\n

Continue reading “Shareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders”<\/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-405284","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nShareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-robbins-llp-announces-that-genfit-sa-gnft-is-being-sued-for-misleading-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Shareholder Alert: Robbins LLP Announces That Genfit SA (GNFT) is Being Sued for Misleading Shareholders SAN DIEGO & CAMBRIDGE, Mass.–(BUSINESS WIRE)– Shareholder rights law firm Robbins LLP announces that a purchaser of Genfit SA American Depository Shares (NASDAQ: GNFT) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Act of 1933 pursuant to the Company\u2019s initial public offering in the U.S., conducted on March 27, 2019 (the “IPO”). 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