QUEBEC CITY, Sept. 24, 2015 /CNW Telbec/ - Aeterna
Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the "Company"),
announced today that the previously disclosed purported class
action lawsuit filed against the Company and certain of its current
and former officers (the "Defendants"), brought on behalf of
shareholders of the Company in the United States District Court for
the Southern District of New
Jersey, has been dismissed with leave to amend. In
dismissing the lawsuit, the Court stated that "taking the complaint
as a whole, plaintiffs have failed to state a claim" under the
Private Securities Litigation Reform Act of 1995 or Rule 9 of the
Federal Rules of Civil Procedure. The plaintiffs have until
October 14, 2015, to file an amended
complaint or to appeal the Court's decision, if they determine to
do so.
"We are pleased that the Court agreed with our view that the
plaintiffs' claims were insufficient to support their allegations
that the Defendants violated the federal securities laws",
commented David Dodd, Chairman and
Chief Executive Officer of Aeterna Zentaris. "We believe the
plaintiffs will be unable to correct the deficiencies in their case
by amending their complaint, if they decide to do so, because we
are confident that their allegations are without merit.
Likewise, we believe that an appeal of the Court's decision would
be unsuccessful because the Court's analysis of the law and the
complaint is sound", Mr. Dodd concluded.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing and commercializing novel treatments in
oncology, endocrinology and women's health. For more
information, visit www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the US Securities
Litigation Reform Act of 1995. Specifically, the statement of
belief about the inability of the plaintiffs to correct the
deficiencies in their lawsuit or to obtain a reversal of the order
on appeal are forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties that
could cause the forward-looking statements to be incorrect.
Such risks and uncertainties include, among others, the existence
of facts unknown to the Company that have a bearing on the lawsuit
and the opinion of the Court regarding such facts and the view of
an appellate court of the Court's decision. Investors are
cautioned not to place undue reliance on the forward-looking
statement. The Company does not undertake to update the
forward-looking statements. We disclaim any obligation to
update any such factors or to publicly announce the result of any
revisions to any of the forward-looking statements contained herein
to reflect future results, events or developments, unless required
to do so by a governmental authority or by applicable law.
SOURCE Aeterna Zentaris Inc.