NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired: Centessa Pharmaceuticals plc (“Centessa” or the “Company”) (NASDAQ: CNTA) American Depositary Shares (“ADSs”) pursuant and/or traceable to the Offering Documents issued in connection with the Company’s initial public offering conducted on or about May 28, 2021 (the “IPO” or “Offering”); and/or Centessa securities between May 28, 2021 and June 1, 2022, both dates inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Central District of California and alleges violations of the Securities Act of 1933 and Securities Exchange Act of 1934.
The Complaint alleges Defendants made false statements and/or concealed that: (i) the Company’s product, lixivaptan, was less safe than Defendants had represented; (ii) Defendants overstated lixivaptan’s clinical and commercial prospects; (iii) another Centessa product, ZF874, was less safe than Defendants had represented; (iv) Defendants overstated ZF874’s clinical and commercial prospects while downplaying the drug’s safety issues; and (v) as a result, documents issued in connection with Centessa’s initial public offering and the Company’s public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Investors who purchased or otherwise acquired shares of Centessa should contact the Firm prior to the November 28, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at or .