Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE)

A class action lawsuit has been filed on behalf of investors who purchased Zynerba Pharmaceuticals, Inc. (“Zynerba”) (NASDAQ: ZYNE) common stock. The lawsuit alleges that certain Zynerba executive officers fraudulently misled investors, causing Zynerba’s stock price to fall by more than 21.7% in one day after the truth emerged. The lawsuit seeks to recover monetary damages for Zynerba investors, with all litigation costs and expenses covered by Murphy Law Firm.
Investor Information

The lawsuit alleges that defendants issued materially false and misleading statements concerning the safety and efficacy of Zygel, the company's transdermal cannabinoid (“CBD”) gel, for which Zynerba is seeking FDA approval. In particular, the complaint alleges that defendants touted Zygel’s ability to treat children and adolescents with developmental and epileptic encephalopathies (“DEE”) while falsely advised investors that Zygel had presented no adverse events in patients. On September 18, 2019, however, it was finally revealed to investors that 96% of Zygel's patients experienced a treatment emergent adverse event (“TEAE”), 60% of patients experienced a treatment related adverse event (“TRAE”), and 10 patients reported a serious adverse event (“SAE”). On this news, Zynerba's stock price fell $2.46, or almost 22%, in a single trading day, to close at $8.84 per share. The price of Zynerba stock has yet to recover.

To join the lawsuit, please provide your information above, or to discuss your rights regarding this class action, please contact A. Brooke Murphy, Esq. at abm@murphylegalfirm.com or (405) 389-4989.