Lowey Dannenberg, P.C. Announces Filing of Securities Class Action Lawsuit Against AstraZeneca plc on Behalf of Investors Who Acquired Shares from May 21, 2020 to November 20, 2020 and Encourages Investors to Inquire About the Lead Plaintiff Position Before the March 29, 2021 Lead Plaintiff Deadline
NEW YORK, Jan. 28, 2021 (GLOBE NEWSWIRE) – Lowey Dannenberg PC, a pre-eminent consumer and investor appeal law firm, has announced the filing of a U.S. federal class action lawsuit in the U.S. District Court for the Southern District of New York on behalf of New York by investors who have purchased or otherwise acquired common shares of AstraZeneca plc (“AstraZeneca” or “Company”) (NASDAQ: AZN) between May 21, 2020 through November 20, 2020 inclusive (the “Class Period”). Violations of the Federal Securities Act are asserted in the class action.
AstraZeneca is a multinational company headquartered in Cambridge, England. AstraZeneca is one of the largest biopharmaceutical companies in the world with a history of discovery and development of therapies for oncological, cardiovascular and respiratory diseases. Last year, AstraZeneca attracted international attention for its role in developing a COVID-19 vaccine, AZD1222.
The complaint alleges that AstraZeneca made false and misleading statements to the public throughout the class and did not disclose material adverse facts about the company’s business and operational policies. In particular, Defendants made false and / or misleading statements by failing to disclose that: (1) initial clinical trials for AZD1222 suffered from a critical manufacturing defect; (2) additional clinical trials for AZD1222 used different patient subgroups in different types of treatments; (3) certain study participants for AZD1222 received their treatments incorrectly during studies; (4) AstraZeneca has not enrolled a significant number of patients over 55 years of age in its clinical trials for AZD1222, although this patient population is particularly vulnerable to the effects of COVID-19. (5) Because of these deficiencies in the design and conduct of clinical studies for AZD1222, AstraZeneca has undermined the legitimacy of the results of these studies. and (6) as a result, the defendant’s statements about its business, business and prospects were materially false and misleading and / or were unfounded at all relevant times
If you want to serve as the lead plaintiff for the class, you must file an application with the court no later than March 29, 2021. Any member of the proposed class may act as the lead plaintiff through an attorney of their choosing.
If you suffered a net loss from investing in AstraZeneca’s common stock between May 21, 2020 and November 20, 2020, you can obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Christian Levis at firstname.lastname@example.org or by phone at 914-733-7220 or Andrea Farah at email@example.com or by phone at 914-733-7256. The class action lawsuit is entitled Monroe County Employees’ Retirement System v Astrazeneca PLC et al., No. 1: 21-cv-00722 (SDNY).
About Lowey Dannenberg
Lowey Dannenberg is a national law firm representing institutional and individual investors who have suffered financial losses due to corporate fraud and misconduct in violation of federal securities and antitrust laws. The company has extensive experience pursuing millions of dollars’ worth of litigation and has previously reclaimed billions of dollars on behalf of investors.
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