Fortress Biotech, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Fortress Biotech, Inc. (“Fortress” or the “Company”) (NASDAQ: FBIO) between December 11, 2019 and October 9, 2020, inclusive (the "Class Period"). Investors have until January 26, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the Complaint, the Company made false and misleading statements to the market. Fortress' majority-controlled subsidiary Avenue Therapeutics Inc. submitted a New Drug Application ("NDA") for its IV Tramadol product in December 2019. In fact, IV Tramadol was not safe for use with its intended patients. Based on these safety problems, it was not likely that the FDA would approve the NDA for IV Tramadol. Based on this news, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Fortress, investors suffered damages.
If you acquired Fortress Biotech, Inc. securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.