Class Period: May 9, 2011 to Sep 27, 2011
Lead Plaintiff Deadline: Jun 22, 2012 + Deadline passed
Summary of Case:
A securities class action has been filed against NeurogesX, Inc. ("NeurogesX" or the "Company") on behalf of all persons who purchased NeurogesX common stock between May 09, 2011 and September 27, 2011. This case has been filed in the USDC - New York (Southern).
The complaint alleges that the Company's Board of Directors issued materially false and misleading statements and/or failed to disclose material adverse facts concerning the employment of Dr. Jeffrey K. Tobias, the Company's former Chief Medical Officer and Executive Vice President of Research and Development. Specifically, the complaint alleges that representatives of NeurogesX, including Tobias himself, failed to disclose and/or actively concealed the fact that Tobias was seeking other employment. As a result of the aforementioned allegations, NeurogesX's stock traded at artificially high prices.
On September 27, 2011, the Company announced Tobias' resignation. Upon this announcement, shares of NeurogesX declined almost 40%. By October 3, 2011, the Company had lost over half its market value.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.