SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Verve Therapeutics

PR Newswire · 10/14 14:25

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Verve To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $75,000 in Verve between August 9, 2022 and April 1, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Oct. 14, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Verve Therapeutics, Inc. ("Verve" or the "Company") (NASDAQ: VERV) and reminds investors of the October 28, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) defendants did not fully disclose the circumstances under which the Heart-1 Phase 1b clinical trial (the "Heart-1 Trial") of VERVE-101 would be halted (VERVE-101 is an investigational gene editing medicine designed to be a single course treatment that permanently turns off the PCSK9 gene in the liver to reduce disease-driving low-density lipoprotein cholesterol (LDL-C)); (2) defendants overstated the potential benefits of its proprietary lipid nanoparticle (LNP) delivery system; and (3) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On April 2, 2024, before the market opened, Verve Therapeutics issued a press release entitled "Verve Therapeutics Announces Updates on its PCSK9 Program." It disclosed that the Heart-1 clinical trial would be halted due to an adverse event in an individual who had been dosed at 0.45 mg/kg of VERVE-101, and that the LNP delivery system was to blame.

On this news, the price of Verve Therapeutics stock fell by $4.47, or 34.9%, to close at $8.32 on April 2, 2024.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Verve's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Verve class action, go to www.faruqilaw.com/VERV or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

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SOURCE Faruqi & Faruqi, LLP