SAN DIEGO, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that class action lawsuits have commenced on behalf of investors of Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB), Bioventus Inc. (NASDAQ: BVS), and Fate Therapeutics, Inc. (NASDAQ: FATE), and Invivyd, Inc. (“Invivyd ” or the “Company”) (NASDAQ: IVVD) (Formerly named Adagio)). Additional information can be found by following the links below. There is no cost or obligation to you.
Y-mAbs Therapeutics, Inc: https://www.johnsonfistel.com/investigations/y-mabs-therapeutics-inc
Bioventus Inc: https://www.johnsonfistel.com/investigations/bioventus-inc
Fate Therapeutics, Inc.: https://www.cognitoforms.com/JohnsonFistel/FateTherapeuticsInc
Invivyd Inc: https://www.johnsonfistel.com/investigations/invivyd-ivvd-adagio-ipo-class-action
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
Y-mAbs Therapeutics, Inc:
Class Period: October 6, 2020 and October 28, 2022
Lead Plaintiff Deadline: March 20, 2023
Complaint Allegations:
The Y-mAbs class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Y-mAbs misrepresented the U.S. Food and Drug Administration’s (“FDA”) willingness to approve Omburtamab for marketing based on the existing clinical trials; (ii) Y-mAbs misrepresented that progress was being made that would align with the FDA’s requirements to demonstrate substantial evidence of effectiveness, sufficient for approval of Omburtamab, through adequate and well-controlled studies; and (iii) the FDA had repeatedly advised Y-mAbs that it was unlikely to approve the marketing of Omburtamab.
Bioventus Inc:
Class Period: February 11, 2021 and November 21, 2022
Lead Plaintiff Deadline: March 13, 2023
Complaint Allegations:
The Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) Bioventus suffered from significant liquidity issues; (ii) the Company's rebate practices were unsustainable; (iii) accordingly, Defendants overstated the Company's business and financial prospects; (iv) Bioventus maintained deficient disclosure controls and procedures and internal control over financial reporting with respect to the timely recognition of quarterly rebates; (v) all the foregoing increased the risk that the Company would be forced to recognize a significant non-cash impairment charge, could not timely file one or more of its financial reports, would have to amend one or more of its financial statements, and could not meet its financial obligations as they came due; and (vi) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
Fate Therapeutics, Inc.:
Class Period: April 2, 2020 and January 5, 2023
Lead Plaintiff Deadline: March 22, 2023
Complaint Allegations:
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Janssen Collaboration Agreement was less sustainable than Fate had represented to investors; (ii) accordingly, certain the clinical programs, milestone payments, and royalty payments associated with the Janssen Collaboration Agreement could not be relied upon as future revenue sources; (iii) as a result, Fate had overstated the impact of the Janssen Collaboration Agreement's on Fate's long-term clinical and commercial profitability; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Invivyd Inc:
Class Period: November 29, 2021 and December 14, 2021
Lead Plaintiff Deadline: April 3, 2023
Complaint Allegations:
Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose that: (i) the published epitope mapping, structural studies, and sequence analyses that defendants had used to claim ADG20 was effective against the Omicron variant were insufficient, unreliable, and inadequate to make claims of effectiveness of ADG20 against Omicron; (ii) that defendants' claims regarding ADG20's efficacy against Omicron lacked a reasonable factual basis; and (iii) ADG20 was over 300 times less effective against the Omicron variant as compared to its effectiveness against previous variants.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
