Shareholders with losses of $100,000 or more are encouraged to contact the firm.
A Tight Deadline for Investors
The Law Offices of Frank R. Cruz reminds investors of the upcoming August 5, 2024 deadline to file a lead plaintiff motion in the class action against Marinus Pharmaceuticals, Inc. (“Marinus” or the “Company”) MRNS for losses incurred between March 17, 2021, and May 7, 2024, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
The Bumpy Road for Marinus Pharmaceuticals, Inc.
On April 15, 2024, Marinus revealed that its Phase 3 RAISE trial for treating refractory status epilepticus (RSE) did not meet early stopping criteria, leading the Company to consider cost-saving strategies. This news caused Marinus’ stock price to plummet $6.22, or 82.7%, closing at $1.30 per share on April 15, 2024, hurting investors.
Subsequently, on May 8, 2024, Marinus announced cost-cutting measures, such as halting clinical trial enrollment in RAISE and RAISE II, reducing its workforce, and operational adjustments. Furthermore, the Company revealed the termination of the Phase 3 RAISE II trial. Following this disclosure, Marinus’ stock price dropped by $0.14, or 8.91%, closing at $1.43 per share on May 8, 2024, causing further losses to investors.
Allegations of Misleading Statements
The complaint in this class action asserts that during the Class Period, Defendants made false or misleading statements and omitted critical facts regarding Marinus’ business, operations, and prospects. They allegedly downplayed the risks of failing the RAISE trial’s early-stopping criteria and did not disclose the possibility of halting the separate Phase 3 RAISE II trial. As a result, Defendants’ optimistic portrayal of the Company’s standing was deemed deceptive and lacked a solid foundation.
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Looking Ahead
If you bought or acquired Marinus securities during the Class Period, you have until August 5, 2024 to seek lead plaintiff status in this potential class action lawsuit. To join the class action, no immediate action is required; you can choose your legal representation or stay uninvolved as a passive class member. For more details or inquiries about the lawsuit, please reach out to Frank R. Cruz at The Law Offices of Frank R. Cruz in Century City, California.
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https://www.businesswire.com/news/home/20240802588319/en/
