The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) who purchased shares between February 28, 2020 and August 18, 2020. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the BioMarin lawsuit alleges that (i) differences between the Phase 1/2 and Phase 3 study of valoctocogene roxaparvovec, an investigational adenoassociated virus gene therapy, limited the reliability of the Phase 1/2 study to support valoctocogene roxaparvovec’s durability of effect; (ii) as a result, it was foreseeable that the U.S. Food and Drug Administration would not approve the Biologics License Application for valoctocogene roxaparvovec without additional data; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until November 24, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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