Centessa Pharmaceuticals plc (NasdaqGS: CNTA)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 28, 2022 to file lead plaintiff applications in a securities class action lawsuit against Centessa Pharmaceuticals plc (NasdaqGS: CNTA), if they purchased or otherwise acquired the Company’s securities between May 28, 2021 and June 1, 2022, inclusive (the “Class Period”) and/or purchased or otherwise acquired the Company’s American Depositary Shares (“ADSs”) pursuant to the Company’s May 2021 initial public offering (the “IPO”).
Centessa and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) lixivaptan, the Company’s drug product, was less safe than the Company had represented; (ii) the Company overstated lixivaptan’s clinical effectiveness and commercial viability; (iii) ZF874, another of the Company’s drug products, was less safe than the Company had represented; (iv) the Company overstated ZF874’s clinical effectiveness and commercial viability while downplaying the drug’s safety issues; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
The case is Fernandes v. Centessa Pharmaceuticals Plc, et al., No. 22-cv-8805.