NEW YORK –Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) from September 5, 2017 through November 14, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Synergy investors under the federal securities laws.
To join the Synergy class action, go to http://rosenlegal.com/cases-1294.html or call Phillip Kim, Esq. or Daniel Sadeh, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, on September 5, 2017, Synergy announced it had closed on a “non-dilutive” $300 million loan from CRG Partners III L.P., which would be available to Synergy “when needed” to fund its operations through 2019. The lawsuit further claims that on November 14, 2017, Synergy revealed that the loan agreement terms, which were not previously disclosed, prevented Synergy from accessing $200 million of the loan without conducting a dilutive secondary offering or offerings of shares to raise cash, and thus, Synergy was conducting a secondary offering of its shares. As a result, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 10, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1294.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Daniel Sadeh, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected]or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.