The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Immunovant, Inc. f/k/a Health Sciences Acquisitions Corporation (NASDAQ: HSACW) who purchased shares between October 2, 2019 and February 1, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Immunovant lawsuit alleges that (i) HSAC had performed inadequate due diligence into Legacy Immunovant prior to the Merger, and/or ignored or failed to disclose safety issues associated with IMVT-1401; (ii) IMVT-1401 was less safe than the Company had led investors to believe, particularly with respect to treating TED and WAIHA; (iii) the foregoing foreseeably diminished IMVT-1401’s prospects for regulatory approval, commercial viability, and profitability; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 20, 2021 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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