SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Spruce Biosciences, Inc. - SPRB

NEW YORK, March 19, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Spruce Biosciences, Inc. ("Spruce" or the "Company") (NASDAQ: SPRB). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Spruce and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On March 13, 2024, Spruce issued a press release announcing the "termination of the CAHmelia-203 study" of Tildacerfont in Adult Classic Congenital Adrenal Hyperplasia (CAH) with Severe Hyperandrogenemia "and a workforce reduction of approximately 21%" after the CAHmelia-203 study failed to meet its primary endpoint. 

On this news, Spruce's stock price fell $4.38 per share, or 84.38%, to close at $0.81 per share on March 14, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP