TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Recro Pharma Inc (NASDAQ: REPH) Investor Securities Class Action Lawsuit 05/31/2018

  • If you purchased shares of Recro Pharma Inc (NASDAQ: REPH), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Recro Pharma, Inc.
Security
NASDAQ: REPH

Case Name
Recro Pharma Shareholder Class Action Lawsuit 05/31/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of Pennsylvania

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to Recro Pharma, Inc..
Summary

April 24, 2020 - A second amended complaint was filed.

February 14, 2020 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

February 8, 2019 - A motion to dismiss the amended complaint was filed.

December 10, 2018 - An amended complaint was filed.

May 31, 2018 - An investor in shares of Recro Pharma Inc (NASDAQ: REPH) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Recro Pharma Inc in connection with certain allegedly false and misleading statements made between July 31, 2017 and May 23, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Recro Pharma Inc (NASDAQ: REPH) common shares between July 31, 2017 and May 23, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between July 31, 2017 and May 23, 2018, the defendants made false and/or misleading statements and/or failed to disclose that IV meloxicam lacked supporting clinical data to show sufficient clinical benefits to receive U.S. Food and Drug Administration (“FDA”) approval, and that as a result, Recro Pharma Inc’s public statements were materially false and misleading at all relevant times.

Malvern, PA based Recro Pharma Inc, a specialty pharmaceutical company, engages in developing non-opioid products for the treatment of acute pain primarily in the United States.

Recro Pharma Inc reported that its annual Total Revenue rose from $69.33 million in 2016 to $71.83 million in 2017 and that its Net Loss increased from $30.2 million in 2016 to $50.08 million in 2017.

Shares of Recro Pharma Inc (NASDAQ: REPH) reached $12.29 per share in late April 2018.

On May 24, 2018, Recro Pharma Inc announced that the FDA had declined to approve Recro Pharma Inc's New Drug Application (“NDA”) for IV meloxicam. In its Complete Response Letter, the FDA stated that the drug's analgesic effects did not meet FDA expectations and raised questions related to chemistry, manufacturing and controls data.

Shares of Recro Pharma Inc (NASDAQ: REPH) declined to $5.00 per share on May 24, 2018.

On May 31, 2018, NASDAQ: REPH shares closed at $5.45 per share.