NEW YORK, April 06, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Kadmon Holdings, Inc. (“Kadmon” or the “Company”) (NASDAQ:KDMN) in the United States District Court for the Eastern District of New York on behalf of those who purchased or acquired the securities of Kadmon between October 1, 2020 and March 10, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the New Drug Application for belumosudil for the treatment of chronic graft-versus-host disease (cGVHD) (the “Belumosudil NDA”) with the U.S. Food and Drug Administration (“FDA”) was incomplete and/or deficient; (2) the additional new data that the Company submitted in support of the Belumosudil NDA in response to an information request from the FDA materially altered the NDA submission; (3) accordingly, the initial Belumosudil NDA submission lacked the degree of support that the Company had led investors to believe; (4) accordingly, the FDA was likely to extend the Prescription Drug User Fee Act (PDUFA) target action date to review the Belumosudil NDA; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Kadmon during the Class Period should contact the Firm prior to the June 2, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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