LOS ANGELES, CA / ACCESSWIRE / December 6, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Adamas Pharmaceuticals, Inc. ("Adamas" or "the Company") (NASDAQ: ADMS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Adamas knew it faced serious roadblocks that would inhibit its ability to sell its new drug, Gocovri. The Company failed to disclose these roadblocks as part of its January 2018 Secondary Public Offering ("SPO"), misleading the market. Merrill Lynch released a report in October 2018 casting doubt on the Company's ability to successfully market Gocovri, noting that the Company withheld critical information. Adamas backtracked on its growth estimates in March 2019, refusing to predict the future market share of its new drug. Based on this news, Adamas' share price plunged far below the SPO price.
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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.
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SOURCE: The Schall Law Firm
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