NEW YORK, Feb. 20, 2014 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of DURECT Corporation ("DURECT" or the "Company") (NasdaqGM -DRRX). Such investors are advised to contact Peretz Bronstein or his investor Relation's coordinator Eitan Kimelman at firstname.lastname@example.org or 212-697-6484.
The investigation concerns whether DURECT and certain of its officers and/or directors have violated federal securities laws. On February 12, 2014, DURECT announced that the U.S. Food and Drug Administration ("FDA") has issued a Complete Response Letter for POSIDUR ™ (SABER ®-Bupivacaine), an investigational drug for administration into the surgical site to produce post-surgical analgesia. The Company stated that, "based on its review, the FDA has determined that they cannot approve the NDA in its present form, stating the NDA does not contain sufficient information to demonstrate that POSIDUR is safe when used in the manner described in the proposed label, and the FDA has indicated that additional clinical safety studies need to be conducted."
On this news, DURECT shares fell $0.40 per share to $1.55, or more than 20.51%, on February 13, 2014.
If you are aware of any facts relating to this investigation, or purchased shares of DURECT, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.