ClaimsFiler, a FREE shareholder information service, reminds investors with losses in excess of $100,000 that they have until January 11, 2022 to file lead plaintiff applications in a securities class action lawsuit against Novavax, Inc, if they purchased the Company’s securities between March 2, 2021 and October 19, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Maryland.
Novavax investors should visit us at https://claimsfiler.com/cases/nasdaq-nvax/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Novavax and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 5, 2021, the Company disclosed another delay in filing the Emergency Use Authorization (“EUA”) for its COVID-19 vaccine product candidate, NVX-CoV2373, from the third quarter of 2021 to the fourth quarter of 2021. On this news, Novavax’s stock price fell $46.31 per share, or 19.61%, to close at $189.89 per share on August 6, 2021. Then, on October 19, 2021, Politico reported that anonymous sources stated that manufacturing issues could delay regulatory authorizations and approvals for NVX-CoV2373 until the end of 2022.
On this news, Novavax’s shares plummeted $23.69 per share, or 14.76%, to close at $136.86 per share on October 20, 2021.
The case is Sinnathurai v. Novavax, et al., 21-cv-02910.
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