NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action has been filed on behalf of investors who have purchased or otherwise acquired: Centessa Pharmaceuticals plc (“Centessa” or the ” Company”) ) CNTA American Depositary Shares (“ADSs”) pursuant to and/or traceable to the offering documents issued in connection with the Company’s initial public offering (the “IPO” or the “Offering”) on or about May 28, 2021; and/or Centessa Securities between 28 May 2021 and 1 June 2022, both dates inclusive (the “Collection Period”). The lawsuit was filed in the United States District Court for the Central District of California alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.
The lawsuit alleges that the defendants misrepresented and/or withheld that: (i) the company’s product, lixivaptan, was less safe than the defendants alleged; (ii) Defendants have overstated the clinical and commercial prospects of lixivaptan; (iii) another Centessa product, ZF874, was less safe than defendants had argued; (iv) Defendants have overstated ZF874’s clinical and commercial prospects while downplaying the drug’s safety issues; and (v) as a result, documents issued in connection with Centessa’s IPO and the Company’s public statements throughout the collection period were materially false and/or misleading and did not contain information required to be disclosed therein.
Investors who have purchased or otherwise acquired Centessa shares should contact the company before November 28, 2022 Lead Plaintiff’s Application Deadline. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. If you would like to discuss your rights or interests related to this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. by Gainey McKenna & Egleston at (212) 983-1300 or by email at tjmckenna@gme-law.com or gegleston@gme-law.com.
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