The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of shareholders of Spero Therapeutics, Inc. who purchased shares between May 6, 2021 and May 2, 2022.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(i) the data submitted in support of the New Drug Application (“NDA”) for the Company’s product candidate, Tebipenem HBr, were insufficient to obtain approval from the U.S. Food and Drug Administration (“FDA”); (ii) accordingly, it was unlikely that the FDA would approve the Tebipenem HBr NDA in its current form; (iii) the foregoing would necessitate a significant workforce reduction and restructuring of Spero’s operations; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
“Spero Therapeutics, Inc.”
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 July 25, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.