Curanex faces two securities class actions tied to 2025 IPO
Both lawsuits, filed in New York state court, allege misstatements in Curanex's IPO offering documents about stock-manipulation risks and underwriter compliance.
Curanex Pharmaceuticals disclosed in an 8-K filed for events through October 19, 2026 that it is facing two putative securities class actions stemming from its August 2025 initial public offering.
The first suit, filed July 23, 2026 by Daymond Morales and others in the Supreme Court of the State of New York, New York County, names the Company and its underwriters Dominari Securities LLC, Pacific Century Securities, LLC, and Revere Securities LLC, as well as more than 20 other issuers, underwriters, and individual principals of the underwriters.1 The complaint brings claims under Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, against the Company and other defendants, and claims under Section 15 of the Securities Act against certain individuals associated with the underwriter defendants.1 It alleges material misstatements and omissions in the offering documents concerning risks of stock-price manipulation and deficiencies in underwriter due diligence, anti-money laundering compliance, supervision, and business-communication monitoring.1
A second action, filed September 14, 2026 by Robert Lovett, names the Company, its former Chief Financial Officer, and directors, its independent auditor, and the IPO underwriters Dominari Securities LLC, Pacific Century Securities, LLC, and Revere Securities LLC.1 It raises similar claims and allegations to the Morales suit.
Both proposed classes cover persons who acquired the Company's securities in, or pursuant or traceable to the offering documents for, its August 2025 initial public offering.1 The offering documents at issue were the Company's registration statement on Form S-1, as amended, and related prospectuses under the Securities Act.1
The complaints seek unspecified compensatory damages, interest, costs and expenses, including attorneys' and expert fees, rescission or rescissory damages, and equitable or other relief,1 but neither complaint asserts a fraud claim against the Company.1 Curanex said both actions are at a preliminary stage, and the Company intends to defend them vigorously.1 The company's response deadline for the Morales action was extended to November 15, 2026,1 while the Lovett deadline runs through December 11, 2026.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.