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 Veru Inc. (NasdaqCM: VERU).
Following the onset of the COVID-19 pandemic, the Company pursued an Emergency Use Authorization ("EUA") from the U.S. Food and Drug Administration ("FDA") for its drug candidate, sabizabulin, which it had been researching for a cancer indication, for the treatment of COVID-related symptoms. Despite the Company's positive statements regarding the EUA review and FDA support, during a November 2022 advisory committee meeting, FDA representatives disclosed that "communications between the division and the sponsor highlighted repeatedly that the size of the safety database was small," which resulted in the committee voting against the EUA. Then, on March 2, 2023, the Company announced that the FDA formally declined its EUA request.
The Company and certain of its executives have been 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 Veru'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 Veru shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit us at ksfcounsel.com to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients -- including public institutional investors, hedge funds, money managers and retail investors -- in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey. |
