The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Provention Bio, Inc. (NASDAQ: PRVB) who purchased shares between November 2, 2020 and April 8, 2021. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the Provention Bio lawsuit alleges that (i) the teplizumab Biologics License Application (“BLA”) was deficient in its submitted form and would require additional data to secure U.S. Food and Drug Administration approval; (ii) accordingly, the teplizumab BLA lacked the evidentiary support the Company had led investors to believe it possessed; (iii) the Company had thus overstated the teplizumab BLA’s approval prospects and hence the commercialization timeline for teplizumab; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until July 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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