SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AcelRx Pharmaceuticals, Inc. (ACRX)
NEW YORK, Feb. 18, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of AcelRx Pharmaceuticals, Inc. ("AcelRx" or the "Company") (NASDAQ: ACRX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether AcelRx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 16, 2021, AcelRx received a warning letter from the U.S. Food & Drug Administration ("FDA") concerning the promotional claims for the Company's pain medication Dsuvia (sufentanil). Specifically, having "reviewed an "SDS Banner Ad" (banner) (PM-US-DSV-0018) and a tabletop display (PM-US-DSV-0049) (display)," the FDA concluded that "[t]he promotional communications, the banner and display, make false or misleading claims and representations about the risks and efficacy of DSUVIA," and "[t]hus . . . misbrand Dsuvia within the meaning of the Federal Food, Drug and Cosmetic Act (FD&C Act) and make its distribution violative." The warning letter "requests that AcelRx cease any violations of the FD&C Act" and "submit a written response to this letter within 15 days from the date of receipt[.]"
On this news, AcelRx's stock price fell $0.21 per share, or 8.37%, to close at $2.30 per share on February 16, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP