NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Stemline Therapeutics, Inc. (NASDAQ: STML) resulting from allegations that Stemline may have issued materially misleading business information to the investing public.
On January 19, 2017, Stemline announced the proposed public offering of common stock. On January 20, 2017, Stemline announced the pricing of the public offering of 4.5 million shares of its common stock at a price of $10.00 per share, with expected gross proceeds of $45 million. On February 2, 2017, TheStreet reported that a cancer patient in a clinical trial died on January 18, 2017 from a severe side effect tied to Stemline’s drug SL-401, which was not disclosed to investors who bought into Stemline’s public offering. On this news, shares of Stemline fell sharply during intraday trading on February 2, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Stemline investors. If you purchased shares of Stemline between January 19, 2017 and February 1, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1048.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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