NEW YORK, June 24, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Spero Therapeutics, Inc. (NASDAQ: SPRO).
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The lawsuit seeks to recover losses for shareholders who purchased Spero between October 28, 2021 and May 2, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 25, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Spero Therapeutics, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the data submitted in support of the New Drug Application ("NDA") for the Company's product candidate, Tebipenem HBr, were insufficient to obtain approval from the U.S. Food and Drug Administration ("FDA"); (ii) accordingly, it was unlikely that the FDA would approve the Tebipenem HBr NDA in its current form; (iii) the foregoing would necessitate a significant workforce reduction and restructuring of Spero's operations; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law