San Diego, CA -- (SBWIRE) -- 09/18/2020 -- The Shareholders Foundation announced that a lawsuit is pending for certain investors in shares of Acer Therapeutics Inc. (NASDAQ: ACER) over potential securities laws violations by Acer Therapeutics Inc.

Investors who purchased shares of Acer Therapeutics Inc. (NASDAQ: ACER), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The lawsuit was filed on July 01, 2019 against Acer Therapeutics Inc. (NASDAQ: ACER) over alleged violations of Federal Securities Laws. The plaintiff claimed that between September 25, 2017 and June 24, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that Acer lacked sufficient data to support filing EDSIVO's NDA with the FDA for the treatment of vEDS, that the Ong Trial was an inadequate and ill-controlled clinical study by FDA standards, and was comprised of an insufficiently small group size to support EDSIVO's NDA, that consequently, the FDA would likely reject EDSIVO's NDA, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

On December 3, 2019 an amended Complaint was filed and on February 28, 2020, a second amended Complaint was filed. The defendants filed a Motion to Dismiss the second amended Complaint on May 1, 2020.

On June 16, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Those who purchased shares of Acer Therapeutics Inc. (NASDAQ: ACER) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.