Mesoblast is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) comparative analyses between Mesoblast’s Phase 3 trial and three historical studies did not support the effectiveness of the Company's lead product candidate, remestemcel-L, for steroid refractory acute graft versus host disease due to design differences between the four studies; (2) as a result, the US Food and Drug Administration was reasonably likely to require further clinical studies; (3) as a result, the commercialization of remestemcel-L in the U.S. was likely to be delayed; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you incurred a loss on MESO stocks purchased between April 16, 2019 and October 1, 2020, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until December 7, 2020 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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