Alcobra Ltd (NASDAQ:ADHD) Investor Investigation Concerning Possible Wrongdoing Announced

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Company Name(s): 
Alcobra
Affected Securities: 
NASDAQ: ADHD

January 20, 2017 (Shareholders Foundation) - An investigation on behalf of investors in shares of Alcobra Ltd (NASDAQ:ADHD) was announced over potential breaches of fiduciary duties by certain officers and directors at Alcobra Ltd (NASDAQ:ADHD.

The investigation by a law firm concerns whether certain Alcobra Ltd officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Alcobra Ltd is an Israel-based Biopharmaceutical company that focuses on the development and commercialization of a proprietary drug, MG01CI, to treat ADHD.

On January 17, 2017, Alcobra Ltd reported the top-line results from MEASURE, its second Phase 3 clinical trial for the investigational product Metadoxine Extended Release (MDX) for the treatment of ADHD in adult patients. Alcobra Ltd said that in this trial, MDX did not meet the primary endpoint of demonstrating a statistically significant difference from placebo in the change from baseline of the investigator rating of the Conners' Adult ADHD Rating Scales (CAARS).

Shares of Alcobra Ltd (NASDAQ:ADHD) declined on January 17, 2017, to as low as $0.83 per share.

On January 20, 2017, NASDAQ:ADHD shares closed at $0.99 per share.