The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Orphazyme A/S for violations of the federal securities laws.
Investors who purchased the Company’s shares pursuant and/or traceable to the Company’s initial public offering conducted on September 29, 2020 (the “IPO”), or between September 29, 2020 and June 18, 2021, inclusive (the “Class Period”), are encouraged to contact the firm before September 7, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Orphazyme’s arimoclomol was not an effective treatment for Inclusion Body Myositis (“IBM”). Arimoclomol was also not an effective treatment for Amyotrophic Lateral Sclerosis (“ALS”). The Company’s new drug application (“NDA”) for arimoclomol for the treatment of Niemann-Pick disease type C (“NPC”) was not complete and would require additional data to support its benefit-risk analysis. The FDA was not likely to approve the Company’s NDA for arimoclomol. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Orphazyme, investors suffered damages.
The Schall Law Firm
Brian Schall, Esq.,