NEW YORK–(BUSINESS WIRE)–WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) resulting from allegations that Harmony Biosciences may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Harmony Biosciences securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/case/harmony-biosciences-holdings-inc/ or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: On March 28, 2023, before the market opened, market analyst Scorpion Capital published a report on Harmony Biosciences. The report alleged, among other things, that Harmony’s drug, Wakix (pitolisant), is unsafe and causes heart-related issues (including sudden cardiac death) to occur in patients who are otherwise healthy. The report further alleged that, to obtain approval for Wakix from the United States Food & Drug Administration (“FDA”), Harmony Biosciences obtained approval in foreign nations with allegedly lax drug safety controls, such as Russia, before tricking the FDA into approving the drug based on the prior approvals. The report also alleged that the company engaged in kickback schemes to pay physicians to use its drugs, has a sham patent portfolio, and engages in false advertising.
On this news, Harmony Bioscience’s stock price fell as much as $11.34 per share, or 27.33%, in intraday trading.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827