SAN FRANCISCO, CA / ACCESSWIRE / October 28, 2021 / Hagens Berman urges Novavax, Inc. (NASDAQ:NVAX) investors with significant losses to submit your losses now.
Novavax, Inc. (NVAX) Investigation:
The U.S. government invested approximately $1.6 billion in Novavax in 2020 in the hopes it would offer a safe and effective vaccine to help protect against COVID-19.
The investigation focuses on Novavax's and senior management's past claims about the company's progress toward successful development of its COVID-19 vaccine (NVX-CoV2373), including that it has resolved manufacturing challenges.
These claims were brought into serious question on Oct. 19, 2021, when Politico flagged manufacturing problems with Novavax that could hamper the global inoculation campaign. Politico reported "the company's issues are more concerning than previously understood, according to two of the people with direct knowledge of the matter." Politico also reported "‘[t]hey rushed the process,' one of the people with knowledge of the matter said. ‘It's hard to make. And they can't make it.'"
This news drove the price of Novavax shares sharply lower on Oct. 20, 2021.
"We're focused on investors' losses and whether Novavax may have improperly downplayed or concealed its vaccine manufacturing problems," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Novavax and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Novavax should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP