The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of shareholders of Verrica Pharmaceuticals, Inc. who purchased shares between May 28, 2021 and May 24, 2022.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(1) there were manufacturing deficiencies at the facility where Verrica’s contract manufacturer produced a bulk solution for the Company’s lead product candidate, VP-102; (2) these deficiencies were not remediated when Verrica resubmitted its New Drug Application for VP-12 for molluscum; (3) the foregoing presented significant risks to Verrica obtaining regulatory approval of VP-102 for molluscum; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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 August 5, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.