Lawsuit filed for Investors in shares of Verrica Pharmaceuticals Inc. (NASDAQ: VRCA)

The Shareholders Foundation announced that an investor, who purchased shares of Verrica Pharmaceuticals Inc. (NASDAQ: VRCA), filed a lawsuit over alleged violations of Federal Securities Laws by Verrica Pharmaceuticals Inc..

Investors who purchased shares of Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) have certain options and for certain investors are short and strict deadlines running. Deadline: September 14, 2020. NASDAQ: VRCA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

West Chester, PA based Verrica Pharmaceuticals Inc., a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. On June 29, 2020, Verrica Pharmaceuticals Inc disclosed receipt of a letter from the U.S. Food and Drug Administration ("FDA") regarding the Company's New Drug Application ("NDA") for VP-102 for the treatment of molluscum contagiosum. The letter identified certain deficiencies that preclude discussion of labeling and post-marketing requirements. Moreover, according to Verrica Pharmaceuticals Inc, the FDA's information requests have included "a specific request related to a potential safety issue with the applicator that could arise if the instructions for use were not properly followed."
Shares of Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) declined from $16.00 per share on June 24, 2020, to as low as $7.65 per share on July 14, 2020.

The plaintiff claims that between September 16, 2019 and June 29, 2020, the defendants failed to disclose to investors that the Company’s proprietary applicator used for VP-102 posed certain safety risks if the instructions were not properly followed that, as a result, Verrica would incorporate certain user features to mitigate the safety risk, that the addition of the user feature would require additional testing for stability supportive data, that, as a result of the foregoing, regulatory approval for VP-102 was reasonably likely to be delayed, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) 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.

This release was published on openPR.