Levi & Korsinsky, LLP announces the expansion of the class period of a complaint in the USDC for the Southern District of Florida on behalf of shareholders of TherapeuticsMD, Inc. (NYSEMKT: TXMD) who purchased shares between July 7, 2016 and May 7, 2017.
The complaint alleges that, throughout the class period, TherapeuticsMD engaged in a scheme to deceive the market and cause the Company’s stock to trade at artificially inflated prices. In particular, the complaint alleges that TherapeuticsMD made false and/or misleading statements and/or failed to disclose that: (i) the Company’s New Drug Application (NDA) submission for TX-004HR was deficient; (ii) the Company’s NDA submission for TX-004HR was not supported by the complete TX-004HR clinical program and/or the clinical program was deficient; (iii) the Company’s deficient NDA would likely cause a delay of the FDA’s potential approval of the TX-0004HR NDA.
On April 10, 2017, TherapeuticsMD issued a press release announcing that the U.S. Food and Drug Administration had identified deficiencies in its NDA for TX-004HR. Following this news, shares of TherapeuticsMD fell more than 19% to close at $6.20 per share on April 10, 2017.
If you suffered a loss in TherapeuticsMD you have until June 19, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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