NEW YORK, March 29, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in
Lexicon Pharmaceuticals, Inc. ("Lexicon" or the "Company")(NASDAQ:LXRX) of the April 1, 2019 deadline to seek the role of lead
plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Lexicon stock or options between March 11, 2016 and January 17, 2019 and would like to
discuss your legal rights, click here: www.faruqilaw.com/LXRX. There is no cost or obligation to
you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at
212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of Texas on behalf of all those who purchased
Lexicon securities between March 11, 2016 and January 17, 2019 (the "Class Period"). The case, Manopla v. Lexicon
Pharmaceuticals, Inc. et al., No. 19-cv-00301 was filed on January 28, 2019, and has been assigned to Judge Ewing Werlein,
Jr.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading
statements and/or failed to disclose that: (1) the data from Lexicon’s Phase 3 clinical trials assessing the safety and efficacy of
Sotagliflozin in treating type 1 diabetes were not as positive as Lexicon represented; (2) the health risks posed by Sotagliflozin
were severe enough to threaten its FDA approval prospects; and (3) as a result, Lexicon’s public statements were materially false
and misleading at all relevant times.
On January 17, 2019, Lexicon announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA (the "Advisory
Committee") had "voted eight to eight on the question of whether the overall benefits of [Lexicon’s product] Zynquista
(sotagliflozin) outweighed the risks to support approval."
On this news, Lexicon's share price fell from $7.70 per share on January 17, 2019 to a closing price of $5.96 on January 18,
2019: a $1.74 or a 22.60% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Lexicon's conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results
do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential manner.
