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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Vir Biotechnology, Inc. – VIRApr 11th, 2022 20:53 EST
NEW YORK, April 11, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Vir Biotechnology, Inc. (“VIR” or the “Company”) (NASDAQ: VIR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether VIR and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 25, 2022, the United States Food and Drug Administration (“FDA”) announced that it was limiting the use of VIR’s monoclonal antibody, Sotrovimab, to treat COVID-19 in some U.S. regions due to the BA.2 Omicron sub-variant. On this news, VIR’s stock price fell $3.42 per share, or 13.5%, to close at $21.81 per share on March 25, 2022.
Then, on April 5, 2022, the FDA announced that “Sotrovimab is no longer authorized to treat COVID-19 in any U.S. region due to increases in the proportion of COVID-19 cases caused by the Omicron BA.2 sub-variant.” Specifically, the FDA stated that “[d]ata included in the health care provider fact sheet show the authorized dose of sotrovimab is unlikely to be effective against the BA.2 sub-variant. Due to these data, sotrovimab is not authorized in any U.S. state or territory at this time.” On this news, VIR’s stock price fell sharply during intraday trading on April 5, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:Robert S. WilloughbyPomerantz LLP[email protected]888-476-6529 ext. 7980
SOURCE Pomerantz LLP