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PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against BELLUS ...

March 19, 2021 GMT

NEW YORK, March 19, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against BELLUS Health Inc. (“BELLUS”) (NASDAQ: BLU) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of BELLUS between September 5, 2019 and July 5, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose information that resulted in a scheme that: (1) deceived the investing public regarding BELLUS’s business, operations, drug products, drug product development, competition, and present and future business prospects; (2) facilitated the Company’s September 2019 public offering (“Offering”); (3) created artificial demand for the BELLUS common shares sold in the Offering; (4) enabled the Company to receive approximately $70 million in net proceeds from the sale of BELLUS common stock in the Offering; and (5) caused purchases of BELLUS publicly traded common stock at artificially inflated prices. When the true details entered the market, the lawsuit claims that investors suffered damages.

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Investors who purchased or otherwise acquired shares of BELLUS during the Class Period should contact the Firm prior to the May 17, 2021 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 tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.