GlobeNewswire Inc | Nov 30, 2020 02:39PM EST

November 30, 2020

PHILADELPHIA, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Fortress Biotech, Inc. (Fortress Biotech or the Company) (NASDAQ: FBIO) to determine whether the Company engaged in securities fraud or other unlawful business practices.

INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE SECURITIES OF FORTRESS BIOTECH BETWEEN DECEMBER 11, 2019 AND OCTOBER 9, 2020, BOTH DATES INCLUSIVE (THE CLASS PERIOD), AND SUFFERED LOSSESGREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRMS SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, SECURITIES@KEHOELAWFIRM.COM, TO DISCUSS THESECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.

On November 27, 2020, a class action lawsuit was filed against Fortress Biotechin United States District Court, Eastern District of New York.

According to the class action complaint, throughout the Class Period, the Fortress Biotech Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, according to the class action complaint, the Fortress Biotech Defendants made false and/or misleading statements and/or failed to disclose that IV Tramadol was not safe for the intended patient population, and that it was foreseeable to them that the FDA would not approve the New Drug Application for IV Tramadol.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiffside law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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