EVERYTHING YOU NEED TO KNOW ABOUT THE SCYNEXIS CLASS ACTION LAWSUIT

Everything You Need to Know about the SCYNEXIS Class Action Lawsuit

12/25/2023

If you suffered losses in SCYNEXIS stock, contact SCYNEXIS stock loss lawyer Timothy L. Miles about a SCYNEXIS class action lawsuit

Introduction

The SCYNEXIS class action lawsuit has been filed against SCYNEXIS, Inc. (NASDAQ: SCYX) and certain executives for alleged violations of the Securities Exchange Act of 1934. This article aims to provide a comprehensive overview of the lawsuit, its allegations, and the potential impact on investors. If you have suffered losses in SCYNEXIS stock, it is important to understand your rights and options.

Background

The SCYNEXIS class action lawsuit seeks to represent purchasers or acquirers of SCYNEXIS securities between March 31, 2023, and September 22, 2023, inclusive. The lawsuit alleges that SCYNEXIS and its top executives made false and/or misleading statements regarding the manufacturing process of ibrexafungerp, a drug developed by the company.

Allegations in the Lawsuit

According to the SCYNEXIS class action lawsuit, defendants failed to disclose that the equipment used to manufacture ibrexafungerp was also used to manufacture a non-antibacterial beta-lactam drug substance, posing a risk of cross-contamination. The lawsuit further alleges that SCYNEXIS lacked effective internal controls and oversight policies to ensure compliance with Good Manufacturing Practices. As a result, the lawsuit claims that a recall of ibrexafungerp tablets and a halt in clinical studies were reasonably likely.

Revelation and Impact

On September 25, 2023, SCYNEXIS revealed that a review by GSK plc had identified potential cross-contamination of ibrexafungerp with a non-antibacterial beta-lactam drug substance. Following this revelation, SCYNEXIS announced a recall of BREXAFEMME from the market and a temporary hold on clinical studies of ibrexafungerp. The news had a significant impact on the company's stock price, which fell more than 41% over two trading sessions.

Lead Plaintiff Deadline

If you wish to serve as the lead plaintiff in the SCYNEXIS class action lawsuit, it is important to act promptly. Lead plaintiff motions must be filed with the court no later than January 8, 2024.

Options for Class Members

Stocks and shares against empty chairs and table at conference room

If you suffered losses in SCYNEXIS stock, contact us about the SCYNEXIS class action lawsuit

As a class member in the SCYNEXIS class action lawsuit, you have two choices. First, you can choose to do nothing and remain a member of the class represented by lead counsel. Second, if you believe your losses justify it, you can opt-out of the lawsuit and file your own separate lawsuit. However, opting out means you will not be able to participate in any potential settlement or recovery obtained in the SCYNEXIS class action lawsuit.

Benefits of Serving as Lead Plaintiff

Serving as the lead plaintiff in the SCYNEXIS class action lawsuit offers several advantages and benefits. As the lead plaintiff, you can negotiate more competitive attorney fees and reduce litigation costs by actively monitoring the class counsel. You also have the opportunity to be actively involved in the litigation process, overseeing the progress of the case, and providing input on important decisions. Additionally, lead plaintiffs who continue to own SCYNEXIS stock may benefit from governance reform resulting from the lawsuit.

Responsibilities of the Lead Plaintiff

The lead plaintiff in the SCYNEXIS class action lawsuit has a fiduciary duty to act in the best interest of the class. Some of the responsibilities include selecting, monitoring, and overseeing lead counsel, reviewing and commenting on court filings, and participating in mediation and trial if necessary. The lead plaintiff plays a crucial role in the litigation process and helps ensure the best outcome for the class.

Eligibility for Lead Plaintiff

If you have suffered losses in SCYNEXIS stock, you may be eligible to be appointed as the lead plaintiff in the SCYNEXIS class action lawsuit. There are no restrictions on non-U.S. investors serving as lead plaintiffs if they have suffered losses in SCYNEXIS stock. It is important to consult with a SCYNEXIS stock loss lawyer to determine your eligibility and explore your options.

Compensation for Lead Plaintiff

The lead plaintiff in the SCYNEXIS class action lawsuit is entitled to their pro rata share of any recovery obtained for the class. They do not receive additional compensation for serving as the representative party. However, the court may approve an award of reasonable costs and expenses directly related to representing the class.

Seek Legal Assistance

If you have suffered losses in SCYNEXIS stock, it is crucial to seek the help of a SCYNEXIS stock loss lawyer. They are well-versed in securities laws and can provide guidance and representation throughout the class action lawsuit. A stock loss lawyer will fight for your rights and work towards recovering your losses.

Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

This will most likely be the only call you need to make. (855) 846–6529 or [email protected].

Conclusion

The SCYNEXIS class action lawsuit represents an opportunity for investors who suffered losses in SCYNEXIS stock to seek justice and potential compensation. By understanding the allegations, options, and responsibilities in the lawsuit, investors can make informed decisions about their involvement. Seeking the assistance of a skilled stock loss lawyer is crucial for navigating the complex legal process and maximizing the chances of a favorable outcome.

CONTACT A SCYNEXIS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN SCYNEXIS STOCK ABOUT A SCYNEXIS CLASS ACTION LAWSUIT

If you suffered losses in SCYNEXIS stock, contact SCYNEXIS stock loss lawyer Timothy L. Miles today for a free case evaluation about a SCYNEXIS class action lawsuit. Call today and see what a SCYNEXIS stock loss lawyer could do for you if you suffered losses in SCYNEXIS stock.

SCYNEXIS stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer ofthe South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.

CONTACT
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529