Shareholder Investigation of Corbus Pharmaceuticals Holdings
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Corbus Pharmaceutical Holdings, Inc. (CRBP) Accused of Faking Clinical Results for Lenabasum
According to the complaint against the company for alleged violations of the Securities and Exchange Act of 1934 between November 14, 2016 and February 28, 2019, since 2016, Corbus Pharmaceutical Holdings, Inc. (CRBP) falsely assured investors with reports of positive clinical data in its studies for Lenabasum. Then, on February 28, 2019, a SeekingAlpha article was published denouncing the company’s results by stating that Lenabasum’s “Phase 2 trial in SSc was a massive failure.” When the truth about Lenabasum was revealed, Corbus’ stock fell almost 16% on February 28, 2019. The stock still trades below its class period high.