Cases
Synergy Pharmaceuticals, Inc. (SGYP)
Securities Class Action
Overview
Overview
- Date:
- 2/12/2018
- Company Name:
- Synergy Pharmaceuticals, Inc.
- Stock Symbol:
- SGYP
- Class Period:
- FROM 11/10/2016 TO 11/14/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern New York
NEW YORK, February 12, 2018 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Synergy Pharmaceuticals, Inc. (NYSE: SGYP) securities between November 10 , 2016 and November 14, 2017 (the “Class Period”). Investors have until April 10, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On September 5, 2017, Synergy revealed that it had closed on a “non-dilutive” $300 million loan from CRG Partners III L.P., which would be available to the Company "when needed" to fund its operations through 2019. On November 14, 2017, Synergy divulged that the loan agreement terms, which were not previously disclosed, prevented the Company from accessing $200 million of the loan without conducting a dilutive secondary offering or offerings of shares to raise cash, and therefore, Synergy was conducting a secondary offering of its shares.
Following this news, the stock price of Synergy fell $0.39 per share, or almost 16%, to close at $2.03 per share on November 14, 2017.
If you purchased or otherwise acquired Synergy securities and suffered a loss, continue to hold shares purchased prior to the Class Period, 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 investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On September 5, 2017, Synergy revealed that it had closed on a “non-dilutive” $300 million loan from CRG Partners III L.P., which would be available to the Company "when needed" to fund its operations through 2019. On November 14, 2017, Synergy divulged that the loan agreement terms, which were not previously disclosed, prevented the Company from accessing $200 million of the loan without conducting a dilutive secondary offering or offerings of shares to raise cash, and therefore, Synergy was conducting a secondary offering of its shares.
Following this news, the stock price of Synergy fell $0.39 per share, or almost 16%, to close at $2.03 per share on November 14, 2017.
If you purchased or otherwise acquired Synergy securities and suffered a loss, continue to hold shares purchased prior to the Class Period, 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 investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.