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Lawsuit filed for Investors in shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC)

03-23-2020 08:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in LogicBio Therapeutics, Inc. (NASDAQ: LOGC) shares.

A lawsuit was filed on behalf of investors in LogicBio Therapeutics, Inc. (NASDAQ: LOGC) shares.

An investor, who purchased shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC), filed a lawsuit over alleged violations of Federal Securities Laws by LogicBio Therapeutics, Inc..

Investors who purchased shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC) have certain options and for certain investors are short and strict deadlines running. Deadline: May 18, 2020. NASDAQ: LOGC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Cambridge, MA based LogicBio Therapeutics, Inc., a genome editing company, focuses on developing medicines to treat rare diseases in patients with unmet medical need using GeneRide technology platform. On February 10, 2020, post-market, LogicBio Therapeutics, Inc announced that "the U.S. Food and Drug Administration (FDA) has placed a clinical hold on [LogicBio's] Investigational New Drug (IND) submission for LB-001 for the treatment of methylmalonic acidemia (MMA) pending the resolution of certain clinical and nonclinical questions."

Shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC) declined from $11.60 per share on February 10, 2020 to as low as $3.05 per share on March 12, 2020.

The plaintiff claims that between December 3, 2018 and February 10, 2020, the defendants made false and/or misleading statements and/or failed to disclose that: LogicBio's behind-schedule and rushed Investigational New Drug ("IND") submission of LB-001 did not answer certain pertinent clinical and nonclinical questions, that as a result, the U.S. Food and Drug Administration was likely to hold or deny the IND submission of LB-001 for treatment of methylmalonic acidemia (MMA), and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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