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Pomerantz Law Firm Announces the Filing of a Class Action against Aquestive Therapeutics, Inc. and Certain Officers - AQST

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NEW YORK, March 1, 2021 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Aquestive Therapeutics, Inc. ("Aquestive" or the "Company") (NASDAQ: AQST) and certain of its officers. The class action, filed in United States District Court for the District of New Jersey, and docketed under 21-cv-03751, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Aquestive securities between December 2, 2019 and September 25, 2020, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased Aquestive securities during the Class Period, you have until April 30, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

[Click here for information about joining the class action]

Aquestive was founded in 2004 and is headquartered in Warren, New Jersey. Aquestive is a specialty pharmaceutical company that focuses on identifying, developing, and commercializing various products to address unmet medical needs. The Company's most advanced proprietary product candidate is Libervant (diazepam), a buccal soluble film formulation of diazepam for the treatment of recurrent epileptic seizures.

On December 2, 2019, Aquestive announced the completion of the rolling submission of a New Drug Application ("NDA") to the U.S. Food and Drug Administration ("FDA") for Libervant Buccal Film for the management of seizure clusters (the "Libervant NDA").

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) data included in the Libervant NDA submission showed a lower drug exposure level than desired for certain weight groups; (ii) the foregoing significantly decreased the Libervant NDA's approval prospects; (iii) as a result, it was foreseeable that the FDA would not approve the Libervant NDA in its current form; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On September 25, 2020, Aquestive announced receipt of a Complete Response Letter ("CRL") from the FDA indicating that the review cycle for the Libervant NDA was complete but the application could not be approved in its current form. Specifically, Aquestive advised investors that "[i]n the CRL, the FDA cited that, in a study submitted by the Company with the NDA, certain weight groups showed a lower drug exposure level than desired. The Company intends to provide to the FDA additional information on PK modeling to demonstrate that dose adjustments will obtain the desired exposure levels."

On this news, Aquestive's stock price fell $2.64 per share, or 34.69%, to close at $4.97 per share on September 28, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

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View original content:http://www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-aquestive-therapeutics-inc-and-certain-officers--aqst-301238060.html

SOURCE Pomerantz LLP

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    (Bloomberg) -- The largest power generation and transmission cooperative in Texas filed for bankruptcy in the wake of power outages that caused an energy crisis during the winter freeze last month.Brazos Electric Power Cooperative filed for Chapter 11 in Texas after racking up an estimated $2.1 billion in charges over seven days of the freeze. Last year, it cost cooperative members $774 million for power for all of 2020.The magnitude of the charges “could not have been reasonably anticipated or modeled” and far exceeds Brazos highest liquidity levels in recent years, Executive Vice President Clifton Karnei said in a bankruptcy court declaration. The cooperative on Feb. 25 told state grid operator the Electric Reliability Council of Texas that it wouldn’t pay the $2.1 billion sum, and Karnei resigned from Ercot’s board of directors, court papers show.Read More: Texas’s Power Market Is $1.3 Billion Short After Energy CrisisBrazos had “no choice” but to file for bankruptcy, Karnei said. Chapter 11 protection lets Brazos keep operating while it works out a plan to repay creditors. The cooperative listed assets and liabilities of as much as $10 billion each.“Brazos Electric suddenly finds itself caught in a liquidity trap that it cannot solve with its current balance sheet,” Karnei wrote in the declaration.Aside from its power bills, the cooperative has more than $2 billion of debt outstanding, spread across $1.56 billion of secured notes and about $480 million under a credit line administered by Bank of America Corp., court papers show. Brazos had A+ credit grade from Fitch Ratings and an A from S&P Global Ratings prior to the bankruptcy.Brazos, a member-owned power provider serves customers across 68 Texas counties, stretching from just north of Houston to near the Texas panhandle, court papers show.The bankruptcy is likely to be one of many after four million homes and businesses went without heat, light and water during the deep winter freeze last month, causing as much as $129 billion in economic losses. The state’s broader market set a record for the most expensive week of power in U.S. history. The impact on individual companies is only starting to emerge, with some racking up huge losses while oil and gas producers saw their output halted.Companies that failed to produce electricity were forced to buy power as prices soared. Ercot says it’s $1.3 billion short of what it needs to pay generators for what was produced. This puts huge financial pressure on utilities that managed to keep producing power, as well as those that failed.Ercot has stopped payments to some utilities as it tries to manage defaults. If the grid operator fails to completely cover defaults, the resulting costs would be passed onto all market participants.Griddy Energy LLC , a Texas retail electricity provider that came under fire after its customers received exorbitant power bills during the energy crisis last week, was barred from participating in the state’s power market on Feb. 26.The supplier charges electricity based on real-time prices in wholesale markets, therefore passing the costs straight on to consumers. Ercot revoked Griddy’s rights to conduct activity in the state’s electricity market due to nonpayment, according to a market notice seen by Bloomberg.Fitch Ratings put all retail and wholesale electric utilities operating within Ercot on rating watch negative last month, citing concerns regarding funding requirements and liquidity in the near term.The case is Brazos Electric Power Cooperative Inc., 21-30725, U.S. Bankruptcy Court for the Southern District of Texas (Houston).(Updates with financial details beginning in paragraph three.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

    Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap. In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of February 22nd – 28th, 2021. Without further ado, let’s get started. * Yahoo Finance readers, please click here to view the full article. 10. Red White & Bloom to Enter Third Largest U.S. Cannabis Market With Acquisition of Acreage Holdings’ Florida Operations Florida’s Cannabis Market is the Third-Largest in the U.S., With 2020 Medical Marijuana Sales Exceeding $1.2 Billion Red White & Bloom (OTCQX: RWBYF) announced that the company has struck a deal with Acreage Holdings (OTCQX: ACRGF) to acquire its Florida operations. Upon closing of the deal, RWB will have operations or brands in 6 of the top 10 U.S. states, which generated combined revenue of over $8.8 billion last year. READ FULL RWB ARTICLE 9. Investing $1,000 in These 2 Psychedelic Stocks is an Absurdly Smart Move The Buzz Surrounding Psychedelic Therapies is Only Going to Grow Over Time If you feel that missed out on the cannabis stock bonanza of the last few years, don’t fret. There’s another upcoming opportunity that’s shaping up to be even bigger: psychedelics. Even though psychedelic therapies are still in their infancy, I think there are already a few promising Psychedelic Stocks, such as Compass Pathways (NASDAQ: CMPS) and MindMed (OTCQB: MMEDF) that are worth a $1,000 investment. READ FULL PSYCHEDELIC STOCKS ARTICLE 8. Cannabis Earnings Roundup: Financials From the Big 4 Canadian LPs, Do the Recent Quarterly Results Justify the Lofty Share Prices? Following the Cannabis Sector’s Meteoric Rise to Start the New Year, the Big 4 Canadian LPs Have Each Reported Quarterly Earnings As a result, Cannabis investors have had the opportunity to access the up to date fundamentals of each company and determine if top Canadian Pot Stocks Aphria (NYSE: APHA), Canopy Growth (NYSE: CGC), Aurora Cannabis (NYSE: ACB) and Cronos Group (NASDAQ: CRON) are deserving of their current lofty share prices. READ FULL CANNABIS EARNINGS ARTICLE 7. Field Trip Health Announces Upsize to Previously Announced Bought Deal Public Offering Field Trip Intends to Use the Net Proceeds From the Offering for the Development of the Company’s FT-104 Novel Psychedelic Development Program, the Opening of New Field Trip Health Centers, and for Working Capital and General Corporate Purposes Field Trip Health (OTC: FTRPF) announced that, due to strong demand, it has agreed with a syndicate of underwriters led by Bloom Burton Securities, to increase the size of its previously announced $50,000,015 bought deal offering. Pursuant to the upsized deal terms, the underwriters have agreed to purchase, on a bought deal basis, 12,750,000 common shares of Field Trip, at a price of $6.50, for aggregate gross proceeds of $82,875,000. READ FULL FIELD TRIP ARTICLE 6. Wrigley Chewing Gum Heir to Take Cannabis MSO Parallel Public Via $1.9 Billion Deal Chewing Gum Heir William “Beau” Wrigley Jr., the CEO of Atlanta-Based Parallel, Struck a Mammoth Deal With an Entertainment Mogul to Take the Cannabis Multi-State Operator Public Through a Transaction That Values the Company at $1.9 Billion Ceres Acquisition Corp. – a special purpose acquisition company (SPAC) co-founded by Scott “Scooter” Braun – will buy Parallel, allowing the new company to go public by taking on Ceres’ listing on Canada’s NEO Exchange. READ FULL WRIGLEY MSO ARTICLE 5. MindMed Closes Acquisition of HealthMode, a Leading Machine Learning Digital Medicine Company The Acquisition Will Help MindMed Build a Full Stack Digital Mental Health Platform for Psychedelic Medicines MindMed (OTCQB: MMEDF) reported that it has closed the previously announced acquisition of HealthMode, a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. MindMed also announced that ex-Pfizer (NYSE: PFE) Digital Medicine Executive Dr. Daniel R. Karlin and former Google AI/ML industry veteran Bradford Cross were added to the company’s executive team. READ FULL MINDMED ARTICLE 4. Investors Have Been Flocking to This U.S. Cannabis ETF It Only Took Six Months for the Newest Cannabis ETF to Reach $1 Billion in Assets On Tuesday, AdvisorShares announced its AdvisorShares Pure U.S. Cannabis ETF (NYSE: MSOS) crossed the threshold, making it just the second Cannabis ETF to reach the mark. ETFMG Alternative Harvest ETF (NYSE: MJ) is the other. READ FULL CANNABIS ETF ARTICLE 3. Liberty Health Sciences Shareholders Overwhelmingly Approve Acquisition By Ayr Wellness Shareholders Representing 57% of Issued and Outstanding Shares Voted and 95% Voted in Favour of the Transaction Ayr Strategies (OTCQX: AYRSF), a leading vertically integrated cannabis multi-state operator, and Liberty Health (OTCQX: LHSIF) announce at a special meeting, Liberty security holders voted overwhelmingly in favour of the proposed acquisition of Liberty shares by Ayr in a transaction originally announced on December 22, 2020. READ FULL AYR ARTICLE 2. MindMed Looks Bullish on Growing Acceptance of Psychedelics MindMed’s Stock is Up 937% Since March 2020 But it’s Just Getting Started MindMed (OTCQB: MMEDF)is one of the best Psychedelic Stocks out there. The excitement around the medicinal potential of Psilocybin and other Psychedelics like kratom has helped put MindMed into the spotlight and fuel strong capital appreciation. READ FULL MMED STOCK ARTICLE 1. Creso Pharma Inks Deal to Enter U.S. Cannabis Market With Established Partner The American Cannabis Market is a Major Growth Opportunity for Creso Pharma and its Planned Deal With CERES Natural Remedies Will Help the Company Establish a U.S. Presence Ahead of Likely Federal Legalization Creso Pharma (OTC: COPHF) announced that it has executed a non-binding letter of intent (LOI) with leading CBD and plant-based remedies provider CERES Natural Remedies to distribute and sell Creso’s range of CBD and hemp animal health products in the USA. CERES’ operating business, High Fidelity is Vermont’s largest independent cannabis company and through its established footprint, has generated over USD $35 million in revenue since 2013. READ FULL CRESO PHARMA ARTICLE Photo by Esteban Lopez on Unsplash See more from BenzingaClick here for options trades from BenzingaCannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The WeekCannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • How to Retire a Millionaire Without a 401(k)

    You can retire a millionaire even if you don't have a 401(k). Find out how to hit that goal using IRAs, health savings accounts, and more.

  • A new rule is about to make PPP loans more generous for businesses without employees

    A new SBA rule will make loans substantially more generous for businesses with no employees.

  • When You Buy A Stock, Here's How Much Cash The Company Actually Receives

    When you buy $1,000 of a company’s stock in your Robinhood account, how much of that cash goes directly to help fund the company and its business operations? The answer is $0. Where Your Cash Goes: The issue of buying shares of stock to help “save” struggling companies like GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: AMC) has come up frequently on social media since the WallStreetBets-fueled meme stock buying frenzy began in January. However, experienced investors know that publicly traded companies don’t get a dime from the cash you spend buying their shares of stock. Related Link: Kevin O'Leary Of 'Shark Tank,' Benzinga CEO Jason Raznick Talk GameStop, Bitcoin And Economic Recovery Trades Companies typically raise cash in the public market when they first go public via an initial public offering (IPO), a merger with a special acquisition company (SPAC) or a direct listing. However, once their shares are trading on the public market, any shares you buy in your brokerage account are coming directly from another shareholder who is selling, not the company itself. Aside from any trading fees you may spend on the transaction, every dollar you spend buying shares of GameStop, AMC or other stocks ends up in the brokerage account of the person or institution that sold them to you. AMC and GameStop traders on Reddit and Twitter have been celebrating their efforts to “save” these companies by buying shares of stock. In reality, the companies haven’t gotten any funds from any of the recent stock buying. How Public Companies Raise Funds: Once a company is public, it must raise capital via options such as a follow-on public offer (FPO), also known as a secondary offering. FPOs can be both dilutive or non-dilutive. A non-dilutive FPO happens when the founders or other large shareholders sell some of their shares to the public. An FPO may increase a stock’s float, or free-trading shares, but it does not increase the company’s outstanding shares or decrease its EPS. See also: How to Buy Stocks A dilutive FPO happens when a company creates new shares to sell to the public. By creating new shares, the ownership stakes of existing shareholders are decreased slightly the same way the value of a currency erodes when central banks print more money. Companies can also raise capital by borrowing money. However, the company must first find a lender that will agree on a reasonable interest rate. Many lenders don’t want to touch struggling companies like AMC and GameStop because they aren’t convinced they will be able to pay back their debts. What It Means For Meme Stocks: Despite all the publicity and wild volatility in GameStop, the company itself hasn’t actually been directly helped by all the retail buying. GameStop reportedly considered selling more shares during the January rally, but the SEC has said it would closely scrutinize any company that attempted to take advantage of the extreme trading volatility to knowingly sell overpriced shares to vulnerable investors. In June 2020, bankrupt Hertz Global Holdings Inc (OTC: HTZGQ) withdrew a proposed $500 million equity offering after the SEC cracked down on the company for potentially preying on investors. AMC, on the other hand, was able to raise $1.2 billion via debt and equity deals in January after its stock rallied more than 700%. “The irony here, of course, is that GME couldn’t even tap equity markets to take advantage of the recent short squeeze,” DataTrek Research co-founder Nicholas Colas said this week. He said the so-called “dumb money” flowing into the market may not be helping the companies directly, but it is certainly making short sellers think twice. “You don’t have to be long, but betting against people who think their 10-share buy order is going to change the world is both risky and not actually a fundamentally-based investment position,” Colas said. Benzinga’s Take: GameStop hasn’t been helped directly by all the retail stock buying, but investor enthusiasm and a higher stock price definitely help more than it hurts. If GameStop can now demonstrate its army of new investors and its massive amount of free publicity has translated into improved sales and earnings numbers, the company may have several funding options open up in the near future. GameStop reports fourth-quarter earnings in late March. Photo by Sharon McCutcheon on Unsplash. Latest Ratings for GME DateFirmActionFromTo Jan 2021B of A SecuritiesMaintainsUnderperform Jan 2021Telsey Advisory GroupDowngradesOutperformUnderperform Oct 2020JefferiesDowngradesBuyHold View More Analyst Ratings for GME View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaWhy GameStop Stock Traders Should Beware The 'Law Of Twos And Threes'Kevin O'Leary Of 'Shark Tank,' Benzinga CEO Jason Raznick Talk GameStop, Bitcoin And Economic Recovery Trades© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.