Marinus Pharmaceuticals(US:MRNS) Prnewswire·2024-07-25 13:55Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Marinus Pharmaceuticals due to alleged violations of federal securities laws, particularly related to misleading statements about the RAISE trial and its implications for the company's operations and stock performance [3][12]. Group 1: Allegations and Legal Actions - The complaint alleges that Marinus and its executives made false or misleading statements regarding the risks associated with the RAISE trial, specifically underestimating the consequences of not meeting early-stopping criteria [3]. - The lawsuit claims that the failure to disclose the potential halting of the Phase 3 RAISE II trial led to materially false and misleading statements about the company's business and prospects [3]. - Investors who suffered losses exceeding $50,000 between March 17, 2021, and May 7, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. Group 2: Stock Performance Impact - Following the April 15, 2024 announcement that the RAISE trial did not meet early stopping criteria, Marinus stock plummeted by $6.22 per share, or 82.7%, closing at $1.30 [5]. - The stock experienced an additional decline of $0.10, or 7.69%, to close at $1.20 on April 16, 2024, following the initial drop [5]. - On May 8, 2024, after announcing cost-cutting measures and the cessation of the Phase 3 RAISE II trial, Marinus stock fell by $0.14, or 8.91%, closing at $1.43 [7]. Group 3: Company Background and Legal Context - Faruqi & Faruqi, LLP is a prominent national securities law firm that has recovered hundreds of millions of dollars for investors since its establishment in 1995 [2]. - The firm is currently reminding investors of the August 5, 2024 deadline to seek the role of lead plaintiff in the federal securities class action against Marinus [12]. - The court-appointed lead plaintiff will represent the interests of the class members, and any member can choose to participate or remain an absent class member without affecting their ability to share in any recovery [8].