Newman Ferrara LLP Announces Corporate Governance Investigation of Stemline Therapeutics Inc. - STML
NEW YORK, October 9, 2018 (BUSINESS WIRE) -- Newman Ferrara LLP announced today that the firm is conducting an investigation on behalf of shareholders of Stemline Therapeutics Inc. (“Stemline” or the “Company”) (NASDAQ:STML) into potential breaches of fiduciary duty by the Company’s Board of Directors (the “Board”).
Stemline, headquartered in New York, NY, is a clinical-stage biopharmaceutical company focused on the development and commercialization of oncology therapies. Newman Ferrara’s investigation focuses on decisions made by the Board, without shareholder approval, the result of which significantly diminish shareholder value and do not benefit the Company. Considering the Company’s lackluster performance and mounting loss since its February 2013 IPO, it is clear that the Board lacks the ability to fairly assess and oversee the Company’s direction and leadership.
Current Stemline stockholders seeking more information on this matter are invited to contact Newman Ferrara partner Jeffrey Norton (jnorton@nfllp.com) to discuss this investigation and their rights.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
CONTACT:
Newman Ferrara LLP
Jeffrey M. Norton
1250 Broadway, 27th Fl.
New York, NY 10001
(212) 619-5400