AlloVir Faces Class Action Lawsuit Over Alleged Securities Violations
The lawsuit claims the company overstated the prospects of its lead product, leading to a significant drop in stock price.
Overview
- AlloVir, Inc. is facing a class action lawsuit for alleged violations of federal securities laws.
- The lawsuit claims that AlloVir made false and misleading statements about its business, operations, and prospects.
- Specifically, it is alleged that AlloVir overstated the efficacy and clinical and/or commercial prospects of its lead product, posoleucel.
- AlloVir discontinued the posoleucel Phase 3 studies over efficacy concerns, causing a significant drop in the company's stock price.
- Investors who suffered a loss have until March 19, 2024, to request that the Court appoint them as lead plaintiff.