The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Vaxart, Inc. (NASDAQ: VXRT) who purchased shares between June 25, 2020 and July 25, 2020. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Vaxart lawsuit alleges that 1) Vaxart exaggerated the prospects of its COVID-19 vaccine candidate, including its purported role or involvement in Operation Warp Speed ('OWS'), a program which commits the federal government to massive funding for the development of COVID-19 vaccines; 2) Vaxart's COVID-19 vaccine candidate had no reasonable prospect for mass production and marketing and was not among the companies chosen to receive significant financial support from OWS to produce hundreds of millions of vaccine doses; and 3) Vaxart's COVID-19 vaccine candidate was merely selected to participate in preliminary U.S. government studies to determine potential areas for possible OWS partnership and support.
Shareholders have until October 23, 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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