NEW YORK, March 17, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a securities class action in the United States District Court for the Southern District of New York on behalf of investors who purchased or otherwise acquired common stock of Bellus Health, Inc. ("Bellus" or "Company") (NASDAQ: BLU) from September 19, 2019 through July 5, 2020, inclusive (the "Class Period"). The class action alleges violations of federal securities laws.
Bellus is a clinical-stage biopharmaceutical company whose lead product is BLU-493, which is being developed for the treatment of chronic cough and other afferent hypersensitization related disorders.
The Complaint alleges Bellus made false and misleading statements in its registration statement and prospectus (the “Offering”) and in subsequent public statements throughout the Class Period and failed to disclose material adverse facts about the Company’s business. Specifically, Bellus and its senior officers (1) deceived the investing public about the efficacy of BLU-493, which created a high risk that the drug would not receive FDA approval of Phase 2 trials, and would fall further behind the industry leaders in developing a FDA-approved treatment; (2) created artificial demand for the Bellus common shares sold in the Offering, that enabled the Company to receive approximately $70 million. and (3) caused Plaintiff and the Class to purchase the Company’s publicly traded common stock at artificially inflated prices through July 5, 2020.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than May 17, 2021. Any member of the proposed Class may serve as the Lead Plaintiff through counsel of their choice.
If you have suffered a net loss from investment in Bellus’ initial public offering of common stock effective as of September 5, 2019, or through purchases in the secondary market through July 5, 2020, you may obtain additional information about this lawsuit and your ability to become a Lead Plaintiff by contacting David Harrison at dharrison@lowey.com or at 914-733-7228 or Christian Levis at clevis@lowey.com or at 914-733-7220.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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