NEW YORK, May 11, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Cidara Therapeutics, Inc. (NASDAQ: CDTX) resulting from allegations that Cidara Therapeutics may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Cidara Therapeutics securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=24442 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On April 16, 2024, Cidara Therapeutics filed a current report on Form 8-K with the SEC. In this 8-K, Cidara Therapeutics announced that it’s “previously issued audited consolidated financial statements for the fiscal years ended December 31, 2021 and 2022 included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and each of the Company’s previously issued unaudited condensed consolidated financial statements included in the Company’s Quarterly Reports on Form 10-Q for each of the quarterly periods in 2022 and 2023 (collectively, the “Prior Financial Statements”) filed with the [SEC] should no longer be relied upon and should be restated[.]”
Cidara Therapeutics further announced that its management had “concluded that the Company’s disclosure controls and procedures were not effective at the reasonable assurance level and the Company’s internal control over financial reporting was not effective as of the end of each of the periods covered by the restatement.”
On this news, the price of Cidara Therapeutics stock fell by $1.89 per share, or 11.46%, to close at $14.60 on April 16, 2024.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
