SHAREHOLDER ACTION ALERT: The Schall Law Firm Encourages Investors in Axsome Therapeutics, Inc. With Losses of $500,000 to Contact the Firm

May 16th, 2022 17:30 EST

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Axsome Therapeutics, Inc. (“Axsome” or “the Company”) (NASDAQ: AXSM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between December 30, 2019 and April 22, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before July 12, 2022.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Axsome failed to maintain sufficient chemistry, manufacturing, and control (“CMC”) practices related to the manufacture of AXS-07. Due to its CMC issues, the Company was unlikely to submit an NDA for AXS-07 on the timeline it shared with investors. The Company failed to resolve its CMC problems before the FDA resolved AXS-07. The FDA was unlikely to approve the AXS-07 NDA as submitted. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Axsome, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.


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