Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Immunovant, Inc.
NEW YORK, Feb.25, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, announces that a class action lawsuit has been filed on behalf of investors who have purchased or acquired the securities of Immunovant, Inc. (“Immunovant” or the “Company”) (NASDAQ: IMVT) from October 2, 2019 to February 1, 2021 (the “Class Period”). The lawsuit filed in the US District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
If you Immunovant securities you have purchased and / or wish to discuss your statutory rights and options Please visit Immunovant Shareholder’s class action lawsuit or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint alleges that Defendants made false and / or misleading statements and / or failed to disclose that: (i) HSAC Legacy Immunovant did not examine the merger with sufficient diligence and / or ignored or failed to disclose safety issues related to the merger IMVT-1401; (ii) IMVT-1401 was less secure than the Company had led investors to believe, particularly with respect to the treatment of TED and WAIHA; (iii) the foregoing has predictably reduced IMVT-1401’s prospects for regulatory approval, economic viability and profitability; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
Immunovant issued a press release on February 2, 2021[ing] a voluntary interruption of dosing in ongoing clinical trials for IMVT-1401. “Immunovant disclosed that it” became aware of a physiological signal consisting of increased total cholesterol and LDL [low-density lipoproteins] Levels in IMVT-1401-Treated Patients “and”[o]Despite all caution, the company has decided to voluntarily discontinue dosing in ongoing clinical trials in both TED and TED [WAIHA]to inform patients, investigators and regulators and change the monitoring program. “
In the news, Immunovant’s stock price fell $ 18.22 per share, or 42.08%, to close at $ 25.08 per share on February 2, 2021.
A class action lawsuit has already been filed. If you want to serve as the lead plaintiff, you must transfer the court no later than April 20, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Immunovant securities you have purchased and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/immunovantinc-imvt-shareholder-class-action-lawsuit-stock-fraud-365/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has collected over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP