Investor Brings Class Go well with Over Shock Diabetes Drug Delay

0
488

Law360 (May 21, 2021, 9:35 p.m. EDT) – Biopharmaceutical company Provention Bio Inc. misled its shareholders about the upcoming approval of its type 1 diabetes drug, causing its shares to decline nearly 18% according to a proposed class action lawsuit Filed in federal court in New Jersey Friday.

Provention and its Chief Executive Officer and Chief Financial Officer repeatedly omitted information and overestimated the prospects for approval of its drug teplizumab with the US Food and Drug Administration. This emerges from the complaint, which listed a number of press releases and statements from company executives during the profit calls hyping the drug’s potential despite alleged knowledge of the shortcomings in its use …

Stay ahead of the curve

In the legal profession, information is the key to success. You need to know what is happening to customers, competitors, areas of activity, and industries. Law360 has the information you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, type of lawsuit, etc.)
  • Access to attached documents such as Briefs, petitions, complaints, decisions, motions, etc.
  • Create custom notifications for specific article and case topics, and more!

TRY LAW360 FREE FOR SEVEN DAYS