NEW YORK, Sept. 23, 2020 (GLOBE NEWSWIRE) — Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, announces that it filed a class action lawsuit against Vaxart, Inc. (NASDAQ: VXRT) (“Vaxart” or the “Company”), certain directors and officers of the Company, and Armistice Capital LLP. The case was filed in the Central District of California and brings claims under Sections 10(b), 20(a), and 20A of the Securities Exchange Act of 1934. Lead plaintiff motions are due October 23, 2020.
If you purchased Vaxart stock between June 25, 2020 and July 25, 2020, and have over $100,000 in realized or unrealized losses, you are encouraged to contact a Scott+Scott attorney for additional information at (844) 818-6982 or [email protected]
Vaxart is a small, clinical-stage biotechnology company primarily focused on the development of oral recombinant vaccines based on its proprietary oral vaccine platform. In early 2020, Vaxart purportedly began to develop a Covid-19 vaccine.
In late June 2020, Vaxart made a couple of announcements regarding its Covid-19 vaccine and the stock price increased dramatically.
Soon after these announcements, Vaxart’s largest shareholder, Armistice Capital LLP, sold massive amounts of its Vaxart shares for a huge profit.
Then, on July 25, 2020, The New York Times published an article entitled Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine. The article clarified one of Vaxart’s announcements and reported that, “Vaxart is not among the companies selected to receive significant financial support from (the U.S. Government’s Operation) Warp Speed.”
On this news, the price of Vaxart shares dropped and the Company’s stock price has continued to decline.
What You Can Do
If you purchased Vaxart stock between June 25, 2020 and July 25, 2020 and have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at (844) 818-6982 or [email protected]
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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