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INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Correvio Pharma Corporation Investors

December 23, 2019 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Dec 23, 2019--

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Correvio Pharma Corporation (“Correvio” or the “Company”) (NASDAQ: CORV ) securities between October 23, 2018 and December 5, 2019, inclusive (the “Class Period”). Correvio investors have until February 10, 2020 to file a lead plaintiff motion.

Investors suffering losses on their Correvio investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On December 6, 2019, U.S. Food and Drug Administration (“FDA”) staffers who reviewed the Company’s resubmitted New Drug Application (“NDA”) for Brinavess found that the drug’s benefits did not offset its risks because Brinavess was associated with “serious liabilities” including irregular heartbeat, low blood pressure, and death.

On this news, Correvio’s share price fell $0.86 per share, or nearly 40%, to close at $1.30 per share on December 6, 2019, thereby injuring investors.

Then, on December 10, 2019, the FDA’s Cardiovascular and Renal Drugs Advisory Committee (“RDAC”) voted 11-2 against the resubmitted NDA, noting that the benefit-risk profile for Brinavess was inadequate to support approval.

On this news, Correvio’s share price further fell $0.94 per share, or more than 67%, to close at $0.46 per share on December 11, 2019, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the data supporting the Resubmitted New Drug Application (“NDA”) for Brinavess did not minimize the significant health and safety issues observed in connection with the drug’s original NDA; (2) that the foregoing substantially diminished the likelihood that the U.S. Food and Drug Administration would approve the Resubmitted NDA; and (3) that, as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.

If you purchased Correvio securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20191223005044/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2019.

PUB: 12/23/2019 12:00 PM/DISC: 12/23/2019 12:00 PM

http://www.businesswire.com/news/home/20191223005044/en