NEW YORK--(EON: Enhanced Online News)--Lynda J. Grant, an attorney with over 30 years of experience representing wronged shareholders and consumers and a New York Metro Superlawyer, announces that TheGrantLawFirm, PLLC is investigating potential claims that shareholders of Stemline Therapeutics, Inc. (“Stemline” or the “Company”), may have been misled by materially false and misleading statements issued by the Company in relation to a public offering.
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 $10.00 per share, with expected gross proceeds of $45 million. Investors in the offering were not told that one day prior to the offering, a patient in the Company’s clinical trials had died from a severe side effect tied to the Company’s drug, SL-401. On disclosure of this news on February 2, 2017, the shares of Stemline fell approximately 40% in intraday trading.
TheGrantLawFirm is presently investigating whether the Company and its directors disseminated materially false and misleading statements in connection with the public offering. If you are a shareholder of Stemline and would like additional information regarding this matter, please contact Lynda J. Grant at 212-292-4441 or email@example.com.