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Lawsuit filed for Investors in shares of BELLUS Health Inc. (NASDAQ: BLU)

03-23-2021 02:35 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in BELLUS Health Inc. (NASDAQ: BLU) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in BELLUS Health Inc. (NASDAQ: BLU) shares over alleged securities laws violations.

An investor, who purchased shares of BELLUS Health Inc. (NASDAQ: BLU), filed a lawsuit over alleged violations of Federal Securities Laws by BELLUS Health Inc.

Investors who purchased shares of BELLUS Health Inc. (NASDAQ: BLU) have certain options and for certain investors are short and strict deadlines running. Deadline: May 17, 2021. NASDAQ: BLU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based BELLUS Health Inc., a clinical stage biopharmaceutical company, develops therapeutics for the treatment of chronic cough and other hypersensitization disorders.

BELLUS Health Inc’s lead product is BLU-5937, which is being developed for the treatment of chronic cough (one that lasts over eight weeks) and other afferent hypersensitization-related disorders.

On July 6, 2020, BELLUS Health Inc. provided investors with an update regarding its product BLU-5937 , in development as a treatment for chronic cough. Bellus announced that the drug had failed a Phase 2 study of chronic cough patients for whom other treatments had not worked. Specifically, BLU-5937 was not significantly better than a placebo at reducing the frequency at which patients coughed.

The plaintiff claims that between September 5, 2019 and July 5, 2020, the defendants made false and/or misleading statements and/or failed to disclose information that resulted in a scheme that deceived the investing public regarding BELLUS Health Inc. 's business, operations, drug products, drug product development, competition, and present and future business prospects, that facilitated the Company's September 2019 public offering ("Offering"), that created artificial demand for the BELLUS Health Inc. common shares sold in the Offering, that enabled the Company to receive approximately $70 million in net proceeds from the sale of BELLUS Health Inc. common stock in the Offering, and that caused purchases of BELLUS Health Inc. publicly traded common stock at artificially inflated prices.

Those who purchased shares of BELLUS Health Inc. (NASDAQ: BLU) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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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