The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Mesoblast Limited (NASDAQ: MESO) who purchased shares between April 16, 2019 and October 1, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Mesoblast lawsuit alleges that (1) comparative analyses between Mesoblast’s Phase 3 trial and three historical studies did not support the effectiveness of the Company’s lead product candidate, remestemcel-L, for steroid refractory acute graft versus host disease due to design differences between the four studies; (2) as a result, the US Food and Drug Administration was reasonably likely to require further clinical studies; (3) as a result, the commercialization of remestemcel-L in the U.S. was likely to be delayed; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until December 7, 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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