NEW YORK, Nov. 30, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Zafgen, Inc. (“Zafgen”) (Nasdaq:ZFGN) between January 12, 2015 and October 16, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The lawsuit alleges that Defendants made misrepresentations about thrombotic adverse events in previous clinical trials of its anti-obesity drug, and leading drug candidate, beloranib. Until October 16, 2015, Zafgen had disclosed only two thrombotic adverse events in one prior clinical trial.
On October 14, 2015, Zafgen issued a statement acknowledging the death of a patient in its ongoing Phase 3 study of beloranib. On October 15, 2015, the Food and Drug Administration informed Zafgen that beloranib had been placed on partial clinical hold. Then on October 16, 2015, Zafgen announced that: (i) the patient who died was receiving beloranib – not a placebo; and (ii) there had been four thrombotic adverse events in prior clinical studies of beloranib – two more than previously reported – as well as two additional, previously undisclosed thrombotic events in ongoing studies.
If you suffered a loss in Zafgen you have until December 21, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
Source:Levi & Korsinsky, LLP