Seres Therapeutics, Inc. (NASDAQ: MCRB)

Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of Seres Therapeutics, Inc. (NASDAQ: MCRB) between June 25, 2015 and July 29, 2016, inclusive (the “Class Period”).

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Retention letter:

By submitting this form, you are acknowledging that you have agreed to be represented by Ryan & Maniskas, LLP and such co-counsel as they deem appropriate to associate with in this action.

We have advised you that we have conducted a thorough investigation into the facts and circumstances surrounding the allegations contained in the Complaint, and we believe them to be meritorious. You understand that in seeking to be a plaintiff, you are undertaking certain fiduciary duties and responsibilities, which require you to adequately and fairly represent the class by becoming generally familiar with this litigation so that you can monitor, review and participate with counsel in the prosecution of the action. You may and should confer with us at any time you feel it is appropriate to do so.

Our firm prosecutes class actions and is seeking to undertake this litigation on a contingent fee basis. This means we will not seek payment of any fees unless the lawsuit generates a recovery or benefit for the class. The payment of our fees in this suit is subject to court approval, and we generally seek to have our fees calculated as a percentage of the full amount of the funds recovered, i.e., as a percentage of the amount recovered before the deduction of our fees and expenses.

We will advance all costs and expenses that we deem necessary to pursue an appropriate recovery in this suit. Typical costs and expenses include, but are not limited to, telephone, fax transmission, court costs, computer research, copy, and postage expenses, as well as more substantial items, such as the cost of travel, deposition, trial, mediation expenses, and expert witness and consultant fees. If the lawsuit generates a recovery for the class, we will apply to the Court to have our costs and expenses reimbursed from the settlement fund remaining after the attorneys’ fees have been paid. If there is no recovery, you will not be responsible for any costs.

In the course of the lawsuit, we may, without notice to you, retain and/or work with other law firms, in which case, we would divide any legal fees we receive with such other firms. You agree that we may divide fees with other attorneys for serving as local counsel, or for referral fees, or other services performed. You also agree that with respect to situations in which our co-counsel perform services, they may be entitled to receive between 5% and 10% of our firm’s overall fee. The division of attorneys’ fees with other counsel may be determined upon a percentage basis or upon time spent in assisting the prosecution of the action. The division of fees with other counsel is our sole responsibility and will not increase the fees described above. If we determine at any time that the prosecution of these claims is not feasible or is contrary to justice or the standards of good faith, we are then entitled to withdraw from the representation in the action, with reasonable notice to you. This agreement shall be governed by the laws of the Commonwealth of Pennsylvania. All disputes, disagreements and claims arising out of or related to this agreement shall be resolved exclusively through binding arbitration pursuant to the Rules of the American Arbitration Association.

We look forward to working with you.

Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of Seres Therapeutics, Inc. (“Seres” or the “Company”) (NASDAQ: MCRB) between June 25, 2015 and July 29, 2016, inclusive (the “Class Period”).

Seres shareholders may, no later than November 28, 2016, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Seres and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit:

The complaint alleges that on September 8, 2014, Seres announced final data from its Phase 1b clinical trial of SER-109, which yielded positive results including clinical cures and a favorable safety profile. Seres proceeded to Phase 2 of the clinical trial to further evaluate the efficacy of SER-109. Meanwhile, the company shed SER-109 in a positive light, stating that it believed SER-109 would enable it "to provide a more effective and safer treatment for preventing the recurrence of CDI than the current standard of care." Seres subsequently issued a press release announcing positive first quarter 2015 financial results, stating that it had "made significant progress this quarter to advance our mission of delivering Ecobiotic microbiome medicines to patients" and that its successful initial public offering indicated confidence in the company's science and data to date.

However, the complaint alleges that Seres officials misrepresented the efficacy of SER-109 and its attendant capacity for approval by the U.S. Food and Drug Administration, as well as the structure of the Phase 2 trial. Seres management was allegedly aware that enrollment rates in the parallel open-label study of SER-109 were not performing well in the Phase 2 trial, and that formulation changes had been made to the Phase 2 trial which could affect the clinical cure rate of SER-109. On July 29, 2016, Seres disclosed that SER-109 had failed to reach its primary endpoint of reducing the relative risk of CDI recurrence at up to 8 weeks when compared to a placebo. Specifically, CDI recurrence occurred in 44% of subjects who received SER-109, compared to 53% of subjects who received a placebo. The company further stated that the relative risk of CDI recurrence for the placebo population compared to the SER-109 population was not statistically significant.

On this news, Seres stock declined more than 70% to close at $9.73 per share on August 1, 2016.

If you are a member of the class, you may, no later than November 28, 2016, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.