Lead Plaintiff Appointed in Anavex Fraud Suit

Investor Lam Truong was appointed lead plaintiff April 5 in a class action against biopharmaceutical company Anavex Life Sciences Corp. for allegedly misleading investors about the company’s financial position by artificially inflating its share price (Cortina v. Anavex Life Sci. Corp, 2016 BL 106592, S.D.N.Y., 1:15-cv-10162, 4/5/16).

Truong has the largest financial interest in the lawsuit under the Private Securities Litigation Reform Act (PSLRA) and satisfies the requirements of Fed. R. Civ. P. 23, Judge Jesse M. Furman of the U.S. District Court for the Southern District of New York said.

According to the class, Anavex didn’t ...