On or around 07/21/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: April 17, 2017
According to the law firm press release, 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 NDA submission for TX-004HR was not supported by the complete TX-004HR clinical program and/or the clinical program was deficient; (iii) the deficient NDA would likely cause a delay of the FDA's potential approval of the TX-004HR 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.
Pursuant to a Notice of Voluntary Dismissal, this case was ordered dismissed on July 21, 2017.
Company & Securities Information
Defendant: TherapeuticsMD, Inc.
Industry: Major Drugs
Headquarters: United States
Ticker Symbol: TXMD
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Joseph Paoli, et al. v. TherapeuticsMD, Inc., et al.