NEW YORK, Aug. 16, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Longeveron Inc. («Longeveron» or the «Company») (NASDAQ: LGVN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Longeveron and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around February 11, 2021, Longeveron conducted its initial public offering («IPO»), issuing 2.66 million shares of common stock priced at $10.00 per share. Then, on August 13, 2021, Longeveron issued a press release providing a corporate update and reporting its financial results for the second quarter of 2021. Among other items, Longeveron disclosed data from the Company’s Phase 2b U.S. Aging Frailty trial of its Lomecel-B product, advising investors that the drug had «not achiev[ed] . . . statistical significance for the pairwise comparison to placebo» with respect to key study endpoints.
On this news, Longeveron’s stock price fell $1.51 per share, or 27.91%, to close at $3.90 per share on August 13, 2021, representing a total decline of 61% from the IPO price.
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
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SOURCE Pomerantz LLP