SAN DIEGO, July 6, 2021 / (PRNewswire)
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Provention Bio, Inc. (NASDAQ: PRVB) (“Provention” or the “Company”). The class action is on behalf of shareholders who purchased Provention between November 2, 2020 – April 8, 2021 both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than July 20, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose 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.
A lead plaintiff will act on behalf of all other class members in directing the Provention class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Provention class action lawsuit is not dependent upon serving as lead plaintiff.
If you are a Provention shareholder and have losses and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.