The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of Illinois on behalf of shareholders of Iterum Therapeutics Plc who purchased shares between November 30, 2020 and July 23, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(i) the sulopenem New Drug Application (“NDA”) lacked sufficient data to support approval for the treatment of adult women with urinary tract infections caused by designated susceptible microorganisms proven or strongly suspected to be nonsusceptible to a quinolone; (ii) accordingly, it was unlikely that the Food and Drug Administration would approve the sulopenem NDA in its current form; (iii) Defendants downplayed the severity of issues and deficiencies associated with the sulopenem NDA; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until October 4, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.