Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against bluebird bio, Inc. and Encourages Investors to Contact the Firm
Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Massachusetts District on behalf of investors holding Bluebird Bio, Inc. (NASDAQ: BLUE) securities between the May 11, 2020 and November 4, 2020 inclusive (the “Class Period”). Investors have until April 13, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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Bluebird is a biotechnology company that researches, develops, and commercializes transformative gene therapies for serious genetic diseases and cancer. The company’s gene therapy programs include LentiGlobin (bb1111) for the treatment of sickle cell disease (“SCD”).
In May 2020, amid the COVID-19 pandemic, Bluebird announced that it is expected to file a US Biologics Licensing Application (“BLA”) with the US Food and Drug Administration (“FDA”) for LentiGlobin for Submit SCD in the EU will be second half of 2021.
On November 4, 2020, Bluebird announced that FDA approval of its LentiGlobin product for the treatment of SCD is not expected to be filed in the second half of 2021. Instead, Bluebird has cited “feedback” from the FDA that the company must provide additional data “to demonstrate drug comparability” for LentiGlobin for SCD “in addition to COVID-19 related shifts and COVID-19 impacts on the contract manufacturing organization”, the submission date adjusted until the end of 2022.
In the news, Bluebird’s share price fell $ 9.72 per share, or 16.6%, to close at $ 48.83 per share on November 5, 2020.
The complaint, filed on February 12, 2021, alleges that throughout the class period, defendants made materially false and misleading statements about the company’s business, operational, and compliance policies. In particular, the Defendants made false and / or misleading statements and / or failed to disclose that: (i) data in support of Bluebird’s BLA filing for LentiGlobin for SCD were insufficient to demonstrate drug comparability; (ii) Defendants have downplayed the foreseeable impact of disruptions related to the COVID-19 pandemic on the Company’s BLA filing schedule for LentiGlobin for SCD, particularly with respect to manufacturing; (iii) As a result of all of this, it was foreseeable that the company would not file the BLA for LentiGlobin for SCD in the second half of 2021. and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
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If you have purchased Bluebird securities during the class period and suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at email@example.com, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210406006074/de/
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.