SAN DIEGO, Dec. 18, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in NASDAQ:NOVN shares over alleged Securities Laws Violations by Novan.

Investors who purchased shares of Novan Inc (NASDAQ:NOVN) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that defendants made materially false and misleading statements in the Registration Statement and Prospectus Inc in connection with the Company’s initial public offering (“IPO”), and between September 26, 2016 and January 26, 2017. The plaintiff alleges that the Defendants’ statements falsely stated that the two Phase 3 clinical trials were identical and omitted specific facts as to why the two critical trials were, in fact, not identical, that as a result of these false statements, the Company’s outlook and expected financial performance were not accurately represented to the market at all relevant times and that as a result of defendants’ false statements between September 26, 2016 and January 26, 2017, the price of Novan Inc (NASDAQ:NOVN)  stock climbed significantly above the IPO price of $11.00 per share, reaching as high as $29.09 per share on December 7, 2016.

Those who purchased Novan Inc (NASDAQ:NOVN) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108