ESSA Pharma (US:EPIX) Prnewswire·2025-03-18 09:45Core Viewpoint - ESSA Pharma Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between December 12, 2023, and October 31, 2024 [1][2]. Group 1: Allegations and Claims - The lawsuit claims that the defendants made false statements regarding the efficacy of masofaniten in combination with enzalutamide, suggesting it had no clear benefit over enzalutamide alone [2]. - It is alleged that masofaniten was less effective in treating prostate cancer than previously communicated to investors [2]. - The M-E Combination Study, which was intended to evaluate the treatment's effectiveness, is claimed to be unlikely to meet its primary endpoint as specified in Phase 2 [2]. - Defendants are accused of overstating masofaniten's clinical, regulatory, and commercial prospects, leading to materially false and misleading public statements [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until March 25, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has a strong track record in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].