AZN EQUITY ALERT: Labaton Sucharow Announces Filing of Securities Class Action Lawsuit Against AstraZeneca PLC – NASDAQ: AZN
NEW YORK–(BUSINESS WIRE) – Labaton Sucharow, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of buyers of the securities of AstraZeneca PLC (NASDAQ: AZN) between May 21, 2020 and November 20, 2020 (inclusive of “School Lesson”) . The lawsuit aims to seek compensation for AstraZeneca investors under federal securities laws.
According to the lawsuit, throughout the classroom, the defendants made false and / or misleading statements and / or failed to disclose that: (1) initial clinical trials for AZD1222, the company’s coronavirus vaccine, had hopefully suffered from a critical manufacturing defect; resulting in a significant number of study participants receiving half the intended dosage; (2) clinical trials for AZD1222 consisted of a patchwork of different patient subsets, each with subtly different treatments, undermining the validity and significance of the conclusions that could be drawn from the clinical data for these different patient populations; (3) Certain clinical trial participants for AZD1222 had not received a second dose at the specified times, but received the second dose up to several weeks after the dose was scheduled to be delivered according to the original study design. (4) AstraZeneca had failed to include a significant number of patients over the age of 55 in its clinical trials for AZD1222, despite this patient population being particularly vulnerable to the effects of COVID-19 and thus a primary target market for the drug. (5) AstraZeneca’s clinical studies for AZD1222 had been negatively impacted by widespread design flaws, errors in execution, and poor coordination and communication with regulators and the public. As a result of the foregoing, the AZD1222 clinical studies were not conducted in accordance with industry best practices and acceptable standards, and the data and conclusions that could be derived from the clinical studies were of limited use. and (7) based on the foregoing, AZD1222 was unlikely to be approved for commercial use in the United States, one of the largest potential markets for the drug, in the short term.
If you currently own AstraZeneca shares and would like additional information and protect your investments at no cost, please contact David J. Schwartz at toll free (800) 321-0476 or email email@example.com
About the firm
Labaton Sucharow LLP is one of the world’s leading complex litigation services, serving clients in the fields of securities, antitrust, corporate governance and shareholder rights, as well as consumer cybersecurity and privacy litigation. Labaton Sucharow has been recognized by courts and colleagues for his outstanding achievements and is consistently featured in leading industry publications. The offices are in New York, NY, Wilmington, DE and Washington, DC. For more information on Labaton Sucharow, please visit http://www.labaton.com.