World News: 22:55 GMT Tuesday 28th May 2019. [Levi & Korsinsky, LLP via Globe Newswire via SPi World News]
NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky reminds investors that it has commenced an investigation of Adamas Pharmaceuticals, Inc. (“Adamas” or “the Company”) (NASDAQGM: ADMS) concerning possible violations of federal securities laws.
According to a recently filed complaint, before launching Gocovri, a medicine for treating dyskinesia in Parkinson's disease patients treated with levodopa therapy, Adamas knew it faced significant roadblocks that would dramatically reduce its ability to sell the drug, yet did not inform—and actively misled—the market about this problem. Adamas failed to disclose known risks and trends that impacted the company before, during, and after the Company’s Second Public Offering in January 2018 (“SPO”). Therefore, when Adamas held its SPO in January 2018, it was able to offer its stock at $41.50 per share for gross proceeds of $134 million. In October 2018, Merrill Lynch released a study that cast doubt on Gocovri’s ability to achieve a sizeable market share, and highlighted a number of factors that made clear how Adamas omitted critical information. In March 2019, Adamas walked-back prior growth estimates and refused to make further predictions about Gocovri’s ability to achieve a sizeable market share. On this news, Adamas’s stock fell 33% to $8.16 per share, a decline of over 80% in the approximate year following the SPO. To obtain additional information, :
or contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
Globe Newswire: 22:55 GMT Tuesday 28th May 2019
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