The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Fortress Biotech, Inc. (“Fortress” or “the Company”) (NASDAQ: FBIO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Fortress’ majority-controlled subsidiary Avenue Therapeutics Inc. submitted a New Drug Application ("NDA") for its IV Tramadol product in December 2019. In fact, IV Tramadol was not safe for use with its intended patients. Based on these safety problems, it was not likely that the FDA would approve the NDA for IV Tramadol. Based on this news, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Fortress, 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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