(MENAFN- PR Newswire) NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Rain Oncology Inc. (NASDAQ: rain ) alleging that the Company violated federal securities laws.
Class Period: July 20, 2021 to May 19, 2023
Lead Plaintiff Deadline: September 12, 2023
No obligation or cost to you.
Learn more about your recoverable losses in RAIN:
Rain Oncology Inc. NEWS - RAIN NEWS
CLASS ACTION CASE DETAILS: According to the filed complaint, on May 22, 2023, the Company announced that milademetan failed to meet its primary endpoint of progression free survival in the MANTRA study. Moreover, the Company announced adverse event findings that, according to analysts, indicated that the dosing schedule had not been optimized prior to commencing the study. In response to the announcement, Rain's stock price substantially dropped from $9.93 per share to $1.22 per share, eliminating approximately $316 million in market capitalization in one day.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company concealed risks inherent in the design of its Phase 3 MANTRA study particularly with regard to proceeding directly to Phase 3 from Phase 1; and, (ii) as a result, the Company's statements about the trial and the likelihood of FDA approval were materially misleading during the Class Period.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Rain you have until September 12, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU:
If you purchased Rain securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the RAIN lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: .
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
SOURCE The Klein Law Firm
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