The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Novavax, Inc. (NASDAQ: NVAX) who purchased shares between March 2, 2021 and October 19, 2021. The action, which was filed in the United States District Court for the District of Maryland, alleges that the Company violated federal securities laws.
(i) Novavax overstated its manufacturing capabilities and downplayed manufacturing issues that would impact its approval timeline for NVX-CoV2373, a protein-based vaccine candidate engineered from the genetic sequence of the first strain of the SARS-CoV-2 coronavirus; (ii) as a result, Novavax was unlikely to meet its anticipated Emergency Use Authorization regulatory timelines for NVX-CoV2373; (iii) accordingly, the Company overstated the regulatory and commercial prospects for NVX-CoV2373; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until January 11, 2022 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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