NEW YORK--(BUSINESS WIRE)--
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in DBV Technologies, S.A. (“DBV” or the “Company”) (DBVT) of the March 18, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in DBV stock or options between February 14, 2018 and December 19, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/DBVT. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased DBV securities between February 14, 2018 and December 19, 2018 (the “Class Period”). The case, ITO-Stone v. DBV Technologies S.A. et al, No. 19-cv-00525 was filed on January 23, 2019, and has been assigned to Judge Madeline Cox Arleo.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) DBV Technologies’ Biologics License Application (“BLA”) for Viaskin Peanut failed to provide the FDA with sufficient data on manufacturing procedures and quality controls; (2) consequently, DBV Technologies voluntarily withdrew the BLA for Viaskin Peanut; and (3) as a result, Defendants’ statements about DBV Technologies’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Specifically, on December 19, 2018, after market hours, the Company issued a press release announcing that its “BLA [for Viaskin Peanut was] withdrawn following discussions with FDA regarding insufficient data on manufacturing procedures and quality controls[.]”
On this news, the Company’s share price fell from $14.15 per share on December 19, 2018 to $5.76 per share on December 20, 2018—a $8.39 or 59.29% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding DBV’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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