NEW YORK, July 15, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Molecular Partners AG (NASDAQ: MOLN): (i) pursuant to the offering documents issued in connection with the initial public offering of the Company carried out on or around June 16, 2021 (the “IPO”); and/or (ii) between June 16, 2021 and April 26, 2022, both dates inclusive (the “Class Period”). If you wish to act as lead plaintiff, you must move the Court no later than September 12, 2022.
SO WHAT: If you have purchased securities from Molecular Partners, you may be entitled to compensation without payment of fees or out-of-pocket costs through a contingent fee arrangement.
WHAT TO DO NEXT: To join the Molecular Partners class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7548 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court no later than September 12, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the IPO documents were negligently prepared and, as a result, contained misrepresentations of material facts or failed to state other facts necessary for the statements made not to be misleading and were not not prepared in accordance with the rules and regulations governing their preparation. Further, the Complaint alleges that, throughout the Class Period, the Defendants made materially false and misleading statements regarding the company’s business, operations and prospects. Specifically, the IPO Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) ensovibep was less effective in treating COVID-19 than Defendants had led investors to believe; (2) therefore, the United States Food and Drug Administration (“FDA”) was reasonably likely to require an additional Phase 3 study of ensovibep before granting emergency use authorization ( “USA”); (3) the decline in global rates of COVID-19 has significantly reduced the Company’s chances of obtaining an EUA for ensovibep; (4) as a product candidate, MP0310 (AMG 506), in development for the treatment of certain types of cancer, was less attractive to Amgen Inc. (“Amgen”) than the defendants had led investors to believe ; (5) as a result, there was a strong likelihood that Amgen would return the worldwide rights to MP0310 to Molecular Partners; (6) because of all of the above, the clinical and commercial prospects of ensovibep and MP0310 have been overestimated; and (7) as a result, the IPO Documents and the Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to provide the information that should be contained therein. When the real details entered the market, the lawsuit claims investors suffered damages.
To join the Molecular Partners class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7548 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
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Contact information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
