SAN FRANCISCO, Aug. 05, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP advises investors in Juno Therapeutics Inc. (NASDAQ:JUNO) that the Lead Plaintiff Deadline is September 12, 2016.
If you purchased or otherwise acquired securities of Juno between June 4, 2016 and July 7, 2016 and suffered over $75,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/JUNO
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing JUNO@hbsslaw.com.
In May 2016, during Juno’s JCAR015 Phase II clinical trial (“ROCKET study”), a patient died of a cerebral edema (a neurotoxicity side effect Defendants knew about).
Even so, on June 4, 2016 Defendants glowingly announced the trial “Shows…Lower side effects” but did not disclose the patient’s death. Beginning on June 10, 2016 and continuing through the rest of the month, Juno’s Chief Executive Officer (Hans Bishop) and Chief Financial Officer (Steve Harr) together sold approximately $10 million of Company stock. Bishop’s sales during June were more than twice the value of his total sales for all of 2015.
Then, on July 7, 2016 the Company announced the United States Food and Drug Administration’s clinical hold on the ROCKET study after two more patients died the prior week. According to Bishop, Juno, the FDA, and the Data Safety Monitoring Board convened about the May 2016 neurotoxicity death. In response, Juno’s stock price plummeted 31% to close at $27.81 per share on July 8, 2016.
“The timing of the May 2016 patient fatality, June 2016 '[l]ower side effects' announcement, suspiciously-timed insider selling, and July 2016 surprise public announcement together suggest Defendants’ knowledge of false or misleading statements and, in turn, securities law violations,” said Hagens Berman partner Reed Kathrein. “Defendants were well aware that patient deaths may prompt FDA clinical holds – in 2014 the FDA placed a hold on Juno’s JCAR015 trial after two patients died.”
Whistleblowers: Persons with non-public information regarding Juno Therapeutics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email JUNO@hbsslaw.com.
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