Investigating Claims on Behalf of Marinus Investors
Faruqi & Faruqi, LLP, a prominent national securities law firm, is currently investigating potential claims on behalf of investors of Marinus Pharmaceuticals, Inc. (“Marinus” or the “Company”). This investigation is particularly focused on individuals who have acquired Marinus securities between March 17, 2021, and May 7, 2024. The firm aims to discuss legal rights and options with Marinus investors ahead of the crucial August 5, 2024, deadline to seek the role of lead plaintiff in a federal securities class action against the Company.
The complaint central to this investigation posits that Marinus, along with certain executive members, may have breached federal securities laws through the dissemination of false and/or misleading statements and/or failing to disclose critical information. Key allegations include the Company’s understatement of the risk associated with failing to meet the early-stopping criteria of the RAISE trial, failure to disclose that not meeting such criteria could lead to the halting of the Phase 3 RAISE II trial, and as a result, provided materially false and misleading statements regarding its business operations and prospects at all relevant times.
The situation came to a head on April 15, 2024, when Marinus announced that the RAISE trial did not meet early stopping criteria and disclosed the implementation of cost-saving measures. Following this announcement, Marinus’ stock price plunged significantly, marking a distressing turn for investors. Further compounding the issue, on May 8, 2024, Marinus announced it was halting the Phase 3 RAISE II trial in Refractory Status Epilepticus (RSE), with future development in RSE to be assessed pending a review of the RAISE topline data.
This series of announcements and consequent market reactions have lead to significant financial losses for Marinus shareholders, forming the basis of the securities litigation against the Company. Now, as the deadline to seek the role of lead plaintiff approaches, Marinus investors are encouraged to step forward to potentially recover their investments. The lead plaintiff will act on behalf of all class members in directing the Marinus securities litigation. Those eligible can choose to move the court to serve as lead plaintiff or opt to remain absent from the class; however, their ability to share in any potential future recovery will not be affected.
In addition to representing investors in securities litigations, Faruqi & Faruqi, LLP urges anyone with knowledge regarding Marinus’ conduct to come forward. The firm welcomes contact from whistleblowers, former employees, shareholders, and others who may have relevant information. With a longstanding commitment to defending investor rights and recovering financial losses, Faruqi & Faruqi, LLP continues to actively engage in complex securities litigation on behalf of aggrieved investors across the nation.
