Investors with a $100,000 or more in losses are encouraged to contact the firm before November 9, 2020; click here to submit trade information
LOS ANGELES, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Vaxart, Inc. (NASDAQ: VXRT) investors that acquired shares between June 25, 2020 and July 25, 2020. Investors have until October 23, 2020 to seek an active role in this litigation.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
The investigation focuses on whether the company misled investors concerned the success of the Company’s vaccine, all while permitting certain insiders to benefit from the inflated share price through large sales of Vaxart stock.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On June 26, 2020, Vaxart issued a news release announcing that it had been selected for Operation Warp Speed, the federal initiative to quickly develop drugs to combat the coronavirus. The truth was more complex. Vaxart's Covid-19 vaccine candidate was included in a trial on primates that a federal agency organized in conjunction with Operation Warp Speed. Unbeknownst to investors, Vaxart is not among the companies selected to receive significant financial support from Operation Warp Speed.
Following Vaxart's June 26th announcement, one of the Company’s largest shareholders exercised its newly amended warrants to buy nearly 21 million Vaxart shares and immediately sold them, making an immense $197 million profit.
Then on July 25, 2020, a New York Times article revealed that Vaxart's vaccine candidate was included in a trial on primates that a federal agency was organizing in conjunction with Operation Warp Speed. However, the Company was not selected to receive significant financial support from Operation Warp Speed.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 23, 2020.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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