The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Invivyd, Inc. f/k/a Adagio Therapeutics, Inc. (NASDAQ: IVVD) who purchased shares between November 29, 2021 and December 14, 2021. The action, which was filed in the United States District Court for the District of Massachusetts, alleges that the Company violated federal securities laws.
In particular, the Invivyd lawsuit alleges that (a) the published epitope mapping, structural studies, and sequence analyses which defendants had used to claim that ADG20, an investigational monoclonal antibody treatment for COVID-19, was effective against Omicron were insufficient, unreliable, and inadequate to make claims of effectiveness of ADG20 against Omicron; (b) defendants’ claims regarding ADG20’s efficacy against Omicron lacked a reasonable factual basis; and (c) ADG20 was over 300 times less effective against the Omicron variant as compared to its effectiveness against previous variants.
Shareholders have until April 3, 2023 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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