Marinus Pharmaceuticals (MRNS) Failed Clinical Trial Case

E.D. Pennsylvania

Court

2:24-cv-02430

Case number

17 Mar 2021

Class period Start

07 May 2024

Class period End

05 Aug 2024

Lead Plaintiff motion deadline

$MRNS stockholder filed a claim against Marinus Pharmaceuticals for hiding the risks and potential failure of the RAISE clinical trial.
On April 15, 2024, on announcement of RAISE trial setback, $MRNS plummeted 82%, losing $341M+ in shareholder value.
Marinus investors can join this case to be notified about potential recovery.
Case Details:

On April 15, 2024, Marinus Pharmaceuticals issued a press release revealing that the RAISE trial had not met early stopping criteria and also that the Company would implement cost-saving measures.

On this news, $MRNS plummeted 82% losing $341M+ in shareholder value, and continued its decline on April 16, falling 7% and losing another $5.4M+.

On May 8, 2024, Marinus announced halting RAISE and RAISE II trials, a 20% workforce reduction, and other efficiency measures.

Moreover, Fierce Biotech reported Marinus laying off 20% of staff due to Phase 3 RAISE trial struggles.

On this news, $MRNS fell 8.91% that same day.

Based on these events, $MRNS stockholder filed a claim against Marinus and its leaders, accusing them of the following:
Marinus downplayed the risk of failing early-stopping criteria in the RAISE trial.
They also didn't disclose that failing could stop the Phase 3 RAISE II trial.
Considering all the representations, investors suspect Marinus hid the risks and potential failure of the RAISE clinical trial.

Case Status

Lead Plaintiff Appointed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

15 April 2024

Filing date

05 June 2024

Lead Plaintiff Deadline

05 August 2024

Marinus Pharmaceuticals (MRNS) Failed Clinical Trial Case

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