Minerva Neurosciences Free of Securities Suit Over Drug Claims

June 10, 2021, 11:23 PM

A Minerva Neurosciences Inc. shareholder has agreed to dismiss with prejudice a proposed class action brought against the company in federal court in Massachusetts for allegedly inflating its stock by misleading investors about the prospects for its schizophrenia drug roluperidone.

Nathan McCoy alleged he acquired and held shares of Minerva during the class period, and was injured “by the revelation of the company’s material misrepresentations and material omissions,” according to the complaint filed December 2020 in the U.S. District Court for the District of Massachusetts.

Roluperidone is in development for the treatment of negative symptoms of schizophrenia such as hallucinations, ...

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