NEW YORK, May 09, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces that it is continuing to investigate potential securities claims on behalf of shareholders of Zosano Pharma Corporation resulting from allegations that Zosano Pharma may have issued materially misleading business information to the investing public.
On January 27, 2015, Zosano Pharma sold 6.5 million shares of stock in its initial public offering (the “IPO”), raising over $71 million in new capital. Upon news of the alleged failure of Zosano Pharma’s lead osteoporosis drug program to reach commercial viability, shares of Zosano Pharma fell dramatically in value from its IPO price of $11 per share and closed at $2.35 per share on April 7, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Zosano Pharma investors. If you purchased shares of Zosano Pharma, please visit the firm’s website at http://rosenlegal.com/cases-876.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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