The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against bluebird bio, Inc. (BLUE)
THE ANGEL–(BUSINESS WIRE) – Frank R. Cruz law firm is reminding investors of the upcoming April 13, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors bluebird bio, Inc. (“bluebird” or the “Company” purchased ”(NASDAQ: BLUE) securities between May 11, 2020 and November 4, 2020 inclusive (the“ Class Period ”).
If you are a shareholder who has suffered a loss, click here to participate.
In May 2020, amid the COVID-19 pandemic, Bluebird announced that it is expected to oppose a US Biologics Licensing Application (“BLA”) with the US Food and Drug Administration (“FDA”) for LentiGlobin Sickle cell disease will submit in the second half of 2021.
On November 4, 2020, post-market, Bluebird announced that the BLA would be filing by the end of 2022 based on “feedback” from the FDA requiring the company to provide additional data “demonstrating drug comparability” for LentiGlobin for sickle cells , disease would be postponed as well as “COVID-19 related postponements and COVID-19 impact of the contract manufacturing organization”.
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 in this class action alleges that, throughout the collection period, the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, business and prospects. Specifically, Defendants have failed to advise investors that: (1) data to support Bluebird’s BLA filing for LentiGlobin for SCD are insufficient to demonstrate drug comparability; (2) 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. (3) As a result of the above, it was foreseeable that the company would not file the BLA for LentiGlobin for SCD in the second half of 2021. and (4) as a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or were not based on reasonable grounds at all relevant times.
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If you purchased or otherwise acquired Bluebird securities during the class period, you may request the court to appoint you as the lead plaintiff in this alleged class action no later than April 13, 2021. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Frank R. Cruz of the Frank R. Cruz Law Firms, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067, 310-914-5007, email firstname.lastname@example.org or visit our website at www.frankcruzlaw.com. When inquiring by email, please include your postal address, telephone number and the number of shares purchased.
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