NEW YORK, April 02, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Zevra Therapeutics, Inc. (“Zevra” or the “Company”) (NASDAQ: ZVRA). The investigation concerns whether Zevra and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 29, 2024, Zevra filed a Current Report on Form 8-K with the Securities and Exchange Commission (“SEC”) which revealed that, on March 25, 2024, the Audit Committee of the Company’s Board of Directors concluded that the Company’s previously issued audited consolidated financial statements for the fiscal years ended December 31, 2022 and December 31, 2021, should no longer be relied upon as the Company had not appropriately accounted for certain common stock warrants as liabilities.
In addition, the Company stated that it had concluded that the previously disclosed errors led to misstatements of fair value adjustment in the Company’s Quarterly Reports for the quarterly periods ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023 and September 30, 2023 (the “Prior Interim Financial Statements”). On March 25, 2024, the Audit Committee concluded that the Prior Interim Financial Statements should no longer be relied upon. On this news, the price of Zevra shares declined by $0.64 per share, or approximately 11.03%, from $5.80 per share on March 28, 2024 to close at $5.16 per share on April 1, 2024.
If you purchased or otherwise acquired Zevra securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
