SAN FRANCISCO, January 28, 2021 / PRNewswire / – Hagens Berman urges AstraZeneca PLC (NASDAQ: AZN) investors to file their losses now. A securities fraud lawsuit has been filed and certain investors may have valuable claims.
School lesson: May 21, 2020 – – 20th November 2020
Deadline of the main plaintiff: March 29, 2021
Contact an attorney now: [email protected]
AstraZeneca PLC (AZN) class action against securities fraud
The complaint alleges that defendants misrepresented and omitted widespread flaws in the design, execution, and results of the company’s clinical trials with AstraZeneca’s COVID-19 vaccine candidate (AZD1222).
In particular, the defendants withheld the following: (1) A critical manufacturing error resulted in a significant number of test participants receiving half the intended dosage. (2) clinical trials consisted of incorrect patient makeup receiving subtly different treatments, undermining any conclusion that could be drawn from the clinical data; (3) certain clinical trial participants had not received a second dose at the scheduled times; and (4) the company failed to include significant numbers of patients over the age of 55.
Investors allegedly began to learn the truth 23 November 2020When AstraZeneca announced an interim analysis of its ongoing study for AZD1222, it found that the company used two different dosage regimens in two studies conducted abroad. In one trial, patents were given half a dose followed by a full dose (resulting in 90% effectiveness). In the other, patients received two full doses (resulting in 62% effectiveness).
Investors learned through a series of reports that: (1) the different dosing regimes were due to a known manufacturing defect discovered at the beginning of the process, (2) half the dose had not been tested in patients over 55 years of age, (3 ) certain study participants did not receive the second dose in a timely manner; and (4) US regulators stated that approval for commercial sale of AZD1222 in the US was unlikely without a clear explanation of the inconsistencies in the test results.
In response to this news, the price of AstraZeneca American Depositary Receipts fell significantly.
“We focus on investor losses and prove that AstraZeneca knowingly used unfamiliar abbreviations in its rush to commercialize AZD1222,” he said Reed Kathrein, the Hagens Berman partner who led the investigation.
Whistleblowers: Individuals with nonpublic information about AstraZeneca should review their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Please call for more information Reed Kathrein at 844-916-0895 or by email [email protected].
About Hagens Berman
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SOURCE Hagens Berman Sobol Shapiro LLP