|Company name||Proteostasis Therapeutics, Inc.|
NEW YORK, March 21, 2018 – Bragar Eagel & Squire, P.C. is investigating potential claims against Vuzix Corporation (NASDAQ: VUZI).
Our investigation concerns whether Proteostasis has violated the federal securities laws and/or engaged in other unlawful business practices.
On March 20, 2018, Kerrisdale Capital Management published a report entitled “Proteostasis Therapeutics, Inc.: Hyped-Up Lung Data? Just a Lot of Hot Air.” The report asserted that in the Phase 2 study for the Company’s cystic-fibrosis drug, PTI-428, “the placebo group’s small size and anomalously bad outcomes misleadingly make the treatment group’s unimpressive results look good by comparison.” The report concluded that the drug “is ineffective and will likely fail future Phase 3 trials.”
Following this news, the share price of Proteostasis fell $1.83 per share, or over 26%, to close at $5.16 on March 20, 2018.
If you purchased or otherwise acquired Proteostasis shares and suffered a loss, continue to hold shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.