Philadelphia, Pa .– (Newsfile Corp. – March 5, 2021) – Berger Montague is investigating potential allegations of securities fraud towards bluebird bio, Inc. (“bluebird” or the “Firm”) on behalf of buyers with purchased bluebird securities (NASDAQ: BLUE) between Might 11, 2020 and November 4, 2020 (the “course interval”).
Should you bought bluebird securities in the course of the Class Interval, have questions concerning your rights or pursuits, or want to focus on Berger Montague’s investigation, please contact Legal professionals Andrew Abramowitz at aabramo[email protected] or (215) 875-3015, or Donnell A lot at [email protected] or (215) 875-4667, or contact us at: www.bergermontague.com/bluebird.
Based on a lately filed lawsuit, the defendants misled buyers in the course of the litigation interval, amongst different issues: (i) by failing to reveal that the information in help of bluebird’s biologics license software (“BLA ”) For LentiGlobin, a gene remedy meant to deal with sickle cell illness, was inadequate to exhibit comparability of prescribed drugs; (ii) reduce the potential impression of COVID-related disruptions on the Firm’s BLA submission schedule; and (iii) failing to tell the market that it was foreseeable that bluebird wouldn’t submit the BLA for LentiGlobin within the second half of 2021.
The lawsuit alleges buyers discovered the reality on November 4, 2020, when bluebird revealed it could now not submit its BLA for LentiGlobin within the second half of 2021. As a substitute, citing “feedback” from the FDA demanding that the corporate to supply further knowledge demonstrating the “comparability of prescribed drugs”, in addition to the results of “adjustments and contract manufacturing” associated to COVID, bluebird has adjusted its submission schedule to the tip of 2022.
On this information, bluebird’s share worth fell $ 9.72 per share, or 16.6%, to shut at $ 48.83 per share on November 5, 2020.
Should you bought bluebird securities in the course of the Class Motion Interval, you’ll be able to apply to be named in courtroom because the principal plaintiff to signify different aggrieved buyers in a category motion lawsuit. The deadline for appointing the lead applicant is April 13, 2021. You do not want to be a principal applicant to take part in a potential restoration of the Group.
Whistleblowers: These with private details about the Bluebird are inspired to confidentially help Berger Montague’s investigation or benefit from the SEC’s whistleblower program. Below this program, whistleblowers who present unique info might obtain rewards totaling as much as thirty p.c (30%) of recoveries obtained by the SEC. For extra info, contact us.
Montague Shepherd, with workplaces in Philadelphia, Minneapolis, Washington, DC and San Diego, has been a pioneer in collective securities litigation since its founding in 1970. Berger Montague has represented particular person and institutional buyers for greater than 5 a long time and acts in a capability as lead counsel in courts all through the US.
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