SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

June 24, 2016 11:50 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Chiasma, Inc. of Commencement of a Class Action Lawsuit and a Lead Plaintiff Deadline of August 8, 2016 -- CHMA

NEW YORK, NY--(Marketwired - June 24, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Chiasma, Inc. ("Chiasma") (NASDAQ: CHMA) between July 15, 2015 and April 17, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. To get more information go to:

http://www.zlk.com/pslra/chiasma

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that, among other allegations, defendants made false and/or misleading statements and/or failed to disclose that (i) Chiasma's Phase 3 clinical trial methodology for Mycapssa was not sufficient to demonstrate efficacy and secure approval by the U.S. Food and Drug Administration ("FDA"); (ii) Chiasma's supervision of its suppliers was not sufficient to prevent deficiencies that would delay FDA approval of Mycapssa; and (iii) as a result of the foregoing, Chiasma's public statements were materially false and misleading at all relevant times.

On April 15, 2016, the Company announced the receipt of a Complete Response Letter from the FDA, indicating that Chiasma's New Drug Application for Mycapssa was not yet ready for approval. Following a review of the Letter, the Company issued a release on April 18, 2016, clarifying the FDA's concerns, noting that the FDA recommended Chiasma "conduct a randomized, double-blind and controlled trial...of sufficiently long duration…"

If you suffered a loss in Chiasma you have until August 8, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com