{"id":511914,"date":"2021-07-12T11:38:25","date_gmt":"2021-07-12T15:38:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/"},"modified":"2021-07-12T11:38:25","modified_gmt":"2021-07-12T15:38:25","slug":"orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/","title":{"rendered":"ORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S"},"content":{"rendered":"
\n

NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Orphazyme A\/S (“Orphazyme” or the “Company”) (NASDAQ: ORPH) from September 29, 2020 through June 18, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Northern District of Illinois alleges violations of the Securities Act of 1933 and the Exchange Act of 1934.<\/p>\n

If you\u00a0purchased Orphazyme securities, and\/or would like to discuss your legal rights and options<\/strong>\u00a0please visit\u00a0Orphazyme Shareholder Class Action Lawsuit<\/a>\u00a0or contact\u00a0Noah Wiesner<\/a>\u00a0toll free at\u00a0(877) 779-1414<\/strong>\u00a0or\u00a0nwiesner@bernlieb.com<\/a><\/p>\n

The complaint alleges that, in the Company\u2019s September 3, 2020 registration statement (the \u201cRegistration Statement\u201d) and throughout the Class Period, defendants made materially false and misleading statements regarding the Company\u2019s business, operations, and compliance policies. Specifically, the Registration Statement and defendants made false and\/or misleading statements and\/or failed to disclose that: (i) arimoclomol was not as effective in treating Inclusion Body Myositis (\u201cIBM\u201d) as defendants had represented; (ii) arimoclomol was not as effective in treating Amyotrophic Lateral Sclerosis (\u201cALS\u201d) as defendants had represented; (iii) the arimoclomol new drug application (\u201cNDA\u201d) for Niemann-Pick disease type C (\u201cNPC\u201d) was incomplete and\/or required additional evidence to support the benefit-risk assessment of that NDA; (iv) as a result of (iii), the FDA was unlikely to approve the arimoclomol NDA for NPC in its present form; (v) the Company\u2019s overall business prospects, as well as arimoclomol\u2019s commercial prospects, were significantly overstated; and (vi) as a result, the Registration Statement and defendants\u2019 public statements throughout the Class Period were materially false and\/or misleading and failed to state information required to be stated therein.<\/p>\n

On March 29, 2021, Orphazyme issued a press release \u201cannounc[ing] its phase 2\/3 trial evaluating arimoclomol for the treatment of [IBM] \u2026 did not meet its primary and secondary endpoints. On this news Orphazyme\u2019s American depositary share (\u201cADS\u201d) price fell $3.59 per ADS, or 28.97%, to close at $8.80 per ADS on March 29, 2021.<\/p>\n

On May 7, 2021, Orphazyme issued a press release \u201cannounc[ing] topline data from pivotal trial of arimoclomol in [ALS.]\u201d The press release disclosed that the Company\u2019s \u201cpivotal trial\u2026did not meet its primary and secondary endpoints to show benefit in people living with ALS.\u201d On this news, Orphazyme\u2019s ADS price fell $2.81 per ADS, or 32.83%, to close at $5.75 per ADS on May 7, 2021.<\/p>\n

Then, on June 18, 2021, Orphazyme issued a press release announcing receipt of a Complete Response Letter (\u201cCRL\u201d) from the FDA following the agency\u2019s review of the NDA for arimoclomol for the treatment of NPC. The press release disclosed that the FDA had rejected the arimoclomol NDA for NPC. On this news, Orphazyme\u2019s ADS price fell $7.23 per ADS, or 49.66%, to close at $7.33 per ADS on June 18, 2021.<\/p>\n

If you wish to serve as lead plaintiff, you must move the Court no later than September 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn\u2019t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.<\/p>\n

If you\u00a0purchased Orphazyme securities, and\/or would like to discuss your legal rights and options<\/strong>\u00a0please visit https:\/\/www.bernlieb.com\/cases\/orphazyme-orph-shareholder-class-action-lawsuit-fraud-stock-410\/apply\/<\/a> or contact\u00a0Noah Wiesner<\/a>\u00a0toll free at\u00a0(877) 779-1414<\/strong>\u00a0or\u00a0nwiesner@bernlieb.com<\/a><\/p>\n

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal\u2019s \u201cPlaintiffs\u2019 Hot List\u201d thirteen times and listed in The Legal 500 for ten consecutive years.<\/p>\n

ATTORNEY ADVERTISING. \u00a9 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.<\/p>\n

Contact Information<\/p>\n

Noah Wiesner
Bernstein Liebhard LLP
https:\/\/www.bernlieb.com
(877) 779-1414
Nwiesner@bernlieb.com<\/p>\n


\n
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NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Orphazyme A\/S (“Orphazyme” or the “Company”) (NASDAQ: ORPH) from September 29, 2020 through June 18, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Northern District of Illinois alleges violations of the Securities Act of 1933 and the Exchange Act of 1934. If you\u00a0purchased Orphazyme securities, and\/or would like to discuss your legal rights and options\u00a0please visit\u00a0Orphazyme Shareholder Class Action Lawsuit\u00a0or contact\u00a0Noah Wiesner\u00a0toll free at\u00a0(877) 779-1414\u00a0or\u00a0nwiesner@bernlieb.com The complaint alleges that, in the Company\u2019s September 3, 2020 … <\/p>\n

Continue reading “ORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S”<\/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-511914","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S - 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\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Orphazyme A\/S (“Orphazyme” or the “Company”) (NASDAQ: ORPH) from September 29, 2020 through June 18, 2021 (the \u201cClass Period\u201d). 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The lawsuit filed in the United States District Court for the Northern District of Illinois alleges violations of the Securities Act of 1933 and the Exchange Act of 1934. If you\u00a0purchased Orphazyme securities, and\/or would like to discuss your legal rights and options\u00a0please visit\u00a0Orphazyme Shareholder Class Action Lawsuit\u00a0or contact\u00a0Noah Wiesner\u00a0toll free at\u00a0(877) 779-1414\u00a0or\u00a0nwiesner@bernlieb.com The complaint alleges that, in the Company\u2019s September 3, 2020 … Continue reading \"ORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-12T15:38:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3ODg4MyM0MjkyODg2IzIwMjkzNDk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"ORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S","datePublished":"2021-07-12T15:38:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/"},"wordCount":746,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3ODg4MyM0MjkyODg2IzIwMjkzNDk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/orph-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-orphazyme-a-s\/","name":"ORPH INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Orphazyme A\/S - 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