SAN FRANCISCO, Sept. 07, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds 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 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, a Juno Therapeutics clinical trial patient died of a cerebral edema during Phase II testing of Juno’s JCAR015 drug (the “ROCKET Study”). The patient’s death was the result of a neurotoxicity side effect that company executives were allegedly aware of. The company failed to disclose the patient’s death and on June 4, 2016 touted that the ROCKET Study “Shows…Lower side effects.”
Six days after their positive ROCKET Study announcement, Juno’s Chief Executive Officer (Hans Bishop) and Chief Financial Officer (Steve Harr) began dumping Juno stock, selling approximately $10 million of Company shares in June 2016. The CEO’s June sales alone were more than twice the value of his total sales in 2015.
In July 2016, the FDA placed a clinical hold on the ROCKET Study due to the death of two more clinical trial patients. Juno disclosed the FDA hold, as well as the three clinical trial deaths, on July 7, 2016. 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, and suspiciously-timed insider selling suggest Defendants’ knowledge of false or misleading statements and, in turn, securities law violations,” said Hagens Berman partner Reed Kathrein.
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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