LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Molecular Partners AG (“Molecular Partners” or “the Company”) (NASDAQ: MOLN) for violations of the federal securities laws.
Investors who purchased the Company’s American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s initial public offering conducted on June 16, 2021 (the “IPO”), and/or between June 16, 2021 and April 26, 2022, inclusive (the »Class Period»), are encouraged to contact the firm before September 12, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Molecular Partners’ ensovibep was not as effective at treating COVID-19 as the Company had stated. The FDA was likely to require an additional Phase 3 study before granting the drug a EUA. The decreasing rate of COVID-19 globally diminished the likelihood of the FDA granting a EUA to the Company. The Company’s product candidate MP0310 was of less interest to Amgen than it led the market to believe. There was a significant chance that Amgen would return global rights to the product candidate back to the Company. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO and class period. When the market learned the truth about Molecular Partners, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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