Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Axsome Therapeutics, Inc. (“Axsome” or the “Company”) (NasdaqGM: AXSM).
On November 5, 2020, the Company disclosed that the New Drug Application (“NDA”) for its product candidate, AXS-07, would be delayed to ”the first quarter of 2021, versus previous guidance of the fourth quarter of 2020.” Then, on April 25, 2022, the Company disclosed that it was informed by the FDA that the issues identified during the FDA’s review of the NDA for AXS-07 remained unresolved.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Axsome’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Axsome shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or fill out the form on this page.