Philadelphia, Pennsylvania--(Newsfile Corp. - May 10, 2022) - Odonate Therapeutics Inc. (NASDAQ: ODT) (OTC Pink: ODTC) has agreed to pay $12.5 million to resolve a proposed securities class action in alleging the pharmaceutical company misled investors about the safety of a new drug for treating cancer. The lawsuit accused the company of making misleading statements and omissions about the development of tesetaxel. The amended complaint alleged that the company and its officers unlawfully inflated the stock price by misleading investors about a clinical trial and the likelihood of FDA approval.
Current Odonate shareholders who have held shares of Odonate stock since at least December 7, 2017, can seek corporate reforms, the return of funds back to company coffers, and potentially a court approved incentive award if appropriate.
If you would like to learn more about this matter at no cost to you, please contact us at jgrabar@grabarlaw.com or call 267-507-6085.
Attorney Advertising Disclaimer
These materials have been prepared by the Grabar Law Office for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Prior results referred to in these materials do not guarantee or suggest a similar result in other matters.
Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
www.GrabarLaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123448
