Investors with losses exceeding $100,000 are encouraged to contact the firm

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Marinus Pharmaceuticals, Inc. (“Marinus” or the “Company”) (NASDAQ: MRNS) securities between March 17, 2021 and May 7, 2024, inclusive (the “Class Period”). Marinus investors have until August 5, 2024 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On April 15, 2024, Marinus disclosed that its Phase 3 RAISE trial for the treatment of refractory status epilepticus (RSE) had not met early stopping criteria and that the Company would be “evaluating potential cost-saving strategies.” On this news, Marinus’ stock price fell $6.22, or 82.7%, to close at $1.30 per share on April 15, 2024, thereby injuring investors.

Then, on May 8, 2024, Marinus announced several cost cutting measures, including the halting on clinical trial enrollment in the RAISE and RAISE II trials, reduced Company workforce, and operational changes. Additionally, the Company disclosed that it had stopped that Phase 3 Raise II trial. On this news, Marinus’ stock price fell $0.14, or 8.91%, to close at $1.43 per share on May 8, 2024, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants understated the risk of failure to meet the early-stopping criteria in the RAISE trial; (2) Defendants did not disclose that a possible consequence of failing to meet the early stopping criteria in the RAISE trial would be that Marinus would stop the separate Phase 3 RAISE II trial; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased Marinus securities during the Class Period, you may move the Court no later than August 5, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Marinus securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240613885244/en/

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Marinus Pharmaceuticals, Inc. (MRNS) Investors