The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Bristol-Myers Squibb Company on behalf of former shareholders of Celgene Corporation who received Contingent Value Rights (“CVRs”) (NYSE: BMY.RT) for violations of the federal securities laws.
Investors who received CVRs in exchange for their shares pursuant to Bristol-Myers’s $74 billion acquisition of Celgene on November 20, 2019 (“Merger”) are encouraged to contact the firm before December 6, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. The Joint Proxy filed with the SEC in connection with the merger stated that Celgene shareholders would receive CVRs exchangeable for $9.00 per share once “milestones” were achieved. Bristol-Myers took steps to avoid paying CVR shareholders including making defective filings to the FDA to delay the eventual approval of Liso-cel, resulting in a missed milestone payment. Based on these facts, the Company’s public statements were false and materially misleading throughout the merger period. When the market learned the truth about Bristol-Myers, former Celgene shareholders suffered losses.
The Schall Law Firm
Brian Schall, Esq.,