NEW
YORK, June 23, 2023 /PRNewswire/ -- Jakubowitz
Law announces that an investigation into potential
securities fraud allegations has commenced on
behalf of shareholders of Zai Lab Limited (NASDAQ: ZLAB)
To be contacted by a member of our team, fill out the
form:
https://claimyourloss.com/securities/zai-lab-class-action-loss-submission-form/?id=41209&from=4
Further details on the investigation: On March 9, 2022, the U.S. Securities and Exchange
Commission ("SEC") published a notification identifying
Zai Lab, among other companies, as
in potential violation of the Holding Foreign Companies Accountable
Act, which allows the SEC to delist companies and ban a company's
shares from being traded if the company fails to allow U.S.
regulators to review their company audits for three straight years.
Zai Lab and the other companies
named in the SEC notification have until March 29, 2022 to challenge the charges against
them. On this news, Zai Lab's stock
price fell $6.74 per share, or 18%,
to close at $30.02 per share on
March 10, 2022. On June 6, 2023, Zai Lab reported phase 3
trials for an oncology therapy it is developing with NovoCure. It
said that its tumor treating fields (TTFields) therapy, which uses
skin patches to deliver electric fields to areas of the body, when
used with standard therapies, met its primary endpoint of
three-month improvement in median overall survival time in
metastatic non-small cell lung cancer (NSCLC) patients. However the
study was unreliable because many of the study participants didn't
use an initial checkpoint inhibitor, which is seen as the leading
way to treat NSCLC, thereby allowing for the possibility that the
study was highly skewed by comparing TTFields to a lesser therapy.
On this news, Zai Lab's stock fell
$4.88 per share, or 14.55%, on
unusually high trading volume, to close at $28.66 per share on June
7, 2023.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
View original
content:https://www.prnewswire.com/news-releases/zlab-fraud-alert-jakubowitz-law-is-investigating-zai-lab-limited-in-connection-with-potential-violations-of-federal-securities-laws-301858669.html
SOURCE Jakubowitz Law