LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Mesoblast Limited (“Mesoblast” or “the Company”) (NASDAQ: MESO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between April 16, 2019 and October 1, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before December 7, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, 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 [email protected]
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. An analysis comparing Mesoblast’s Phase 3 trial with three historical trials did not demonstrate the effectiveness of remestemcel-L for steroid refractory acute graft versus host disease (“aGVHD”) because the four studies had different designs. The FDA was likely to require the Company to run additional studies due to this lack of evidence. 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 Mesoblast, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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