NEW YORK, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a federal securities class action in the United States District Court for the Southern District of New York on behalf of investors who purchased or otherwise acquired common stock of AstraZeneca plc ("AstraZeneca" or "Company") (NASDAQ: AZN) from May 21, 2020 to November 20, 2020, inclusive (the "Class Period"). The class action alleges violations of federal securities laws.
AstraZeneca is a multinational company headquartered in Cambridge, England. AstraZeneca is one of the largest biopharmaceutical companies in the world with a history of discovering and developing therapies for oncological, cardiovascular, and respiratory disorders. Over the past year, AstraZeneca has drawn international attention for its role in the development of a COVID-19 vaccine, AZD1222.
The Complaint alleges AstraZeneca made false and misleading statements to the public throughout the Class Period and failed to disclose material adverse facts about the Company’s business and operational policies. Specifically, Defendants made false and/or misleading statements by failing to disclose that: (1) initial clinical trials for AZD1222 suffered from a critical manufacturing error; (2) further clinical trials for AZD1222 made use of disparate patient subgroups given different types of treatments; (3) certain trial participants for AZD1222 were incorrectly administered their treatments during trials; (4) AstraZeneca failed to include a substantial number of patients over 55 years of age in its clinical trials for AZD1222, despite this patient population being particularly vulnerable to the effects of COVID-19; (5) as a result of these flaws in the design and execution of clinical trials for AZD1222, AstraZeneca has undermined the legitimacy of the findings from those trials; and (6) as a result, Defendant’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than March 29, 2021. Any member of the proposed Class may move to serve as the Lead Plaintiff through counsel of their choice.
If you have suffered a net loss from investment in AstraZeneca’s common stock from May 21, 2020 to November 20, 2020, you may obtain additional information about this lawsuit and your ability to become a Lead Plaintiff by contacting Christian Levis at clevis@lowey.com or by calling 914-733-7220 or Andrea Farah at afarah@lowey.com or by calling 914-733-7256. The class action is titled Monroe County Employees’ Retirement System v. Astrazeneca PLC, et al., No. 1:21-cv-00722 (S.D.N.Y.).
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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