NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Wolf Popper LLP is continuing to investigate potential securities fraud claims on behalf of purchasers of Harmony Biosciences Holdings, Inc. (“Harmony”) common stock (NASDAQ: HRMY).
Harmony is a commercial and clinical stage drug company that focuses on therapies for patients with rare neurological diseases.
Before the market opened on March 28, 2023, Scorpion Capital published a short seller report headlined “The Latest Price-Gouging Ploy By The Grifter Who Inspired Convicted Felon Martin Shkreli, But This Time People Have Blood On Their Hands: A $175,000 Per Year Drug With Alarming Toxicity And A Trail Of Covered-Up Deaths And Injuries; No Efficacy; A Non-Existent Mechanism of Action; Sham Patents; Based On Scam Clinical Trials In Places Like Russia And Turkey By A French Quack; Pushed Via False Advertising And A Vast Off-Label And Physician Kickback Scheme.” The Report alleges the FDA has received dozens of serious adverse event reports regarding Harmony’s FDA approved drug WAKIX that “paint a devastating picture of the drug’s risk.” Furthermore, Scorpion Capital wrote that, based on information in the Report, it “believe[s] explosive information was concealed from the FDA that would have prevented approval in 2019.” On this news, Harmony’s stock price fell $10.70 per share to $30.80 on March 28, 2023, down 25.8% on very heavy volume.
Investors who have lost over $50,000 trading in Harmony’s common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or asavett@wolfpopper.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
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Wolf Popper LLP
Adam Savett
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9655
Email: asavett@wolfpopper.com
