SAN DIEGO, Aug. 29, 2024 (GLOBE NEWSWIRE) — Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Sage Therapeutics, Inc. (NASDAQ: SAGE) securities between April 12, 2021 and July 23, 2024. Sage is a biopharmaceutical company that develops and commercializes brain health medicines.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Sage Therapeutics, Inc. (SAGE) Misled Investors Regarding the Efficacy of its New Drugs
According to the complaint, during the class period, defendants failed to disclose that: (i) zuranolone was less effective in treating MDD [major depressive disorder] than defendants had led investors to believe; (ii) accordingly, the FDA was unlikely to approve the Zuranolone NDA for the treatment of MDD in its present form, and uranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (iii) SAGE-718 was less effective in treating MCI [mild cognitive impairment] due to PD [Parkinson’s Disease] than defendants had led investors to believe; (iv) accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (v) SAGE-324 was less effective in treating ET [essential tremor] than defendants had led investors to believe; (vi) accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (vii) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
What Now: You may be eligible to participate in the class action against Sage Therapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by October 28, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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