WILMINGTON, Del., July 15, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Juno Therapeutics, Inc. (NASDAQ:JUNO)?
- Did you purchase your shares between June 4, 2016 and July 7, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Western District of Washington on behalf of all persons or entities that purchased the common stock of Juno Therapeutics, Inc. (“Juno” or the “Company”) (NASDAQ:JUNO) between June 4, 2016 and July 7, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Juno during the Class Period, or purchased shares prior to the Class Period and still hold Juno, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/juno-therapeutics-inc-juno.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that in May 2016, a patient in the Phase 2 trial (also known as the “ROCKET” trial) of the Company’s leading product candidate, JCAR015, died of a cerebral edema (a form of neurotoxicity that was a known side effect of JCAR015). As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, despite consulting with its Data Safety Monitoring Board (“DSMB”) and the U.S. Food and Drug Administration (“FDA”) about an appropriate response to the patient death, Juno failed to inform investors of the event. Instead, in early June, Juno issued a glowing press release about JCAR015 that boasted of "[l]ower side effects in patients with minimal disease at time of CAR T cell infusion" and made partial, misleading disclosures about side effects—revealing that "Grade 3 or higher neurotoxicity was observed in 15/51 (29%) patients" in a Phase 1 trial but failing to disclose the patient death in May. In addition, defendant Hans E. Bishop, Juno's Chief Executive Officer, sold over $8.6 million worth of Juno stock shortly thereafter – more than twice the value of his total Juno sales for all of 2015.
Then, on July 7, 2016, the Company announced that that a clinical hold had been placed on the Phase II clinical trial of JCAR015 as two more patients in the ROCKET trial had died.
On this news, shares of Juno plummeted over 31%, closing at $27.81 per share on July 8, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than September 12, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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