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PAXTON v. PROVENTION BIO, INC. et al
Case Number:
3:21-cv-11613
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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August 04, 2022
Shareholders Lose Lawsuit Over Diabetes Drug Delay
A proposed class of shareholders who sued a biopharmaceutical company over an unexpected delay in the approval of a breakthrough diabetes drug lost their case Thursday when a New Jersey federal judge said optimistic statements about the drug's future weren't actionable.
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May 21, 2021
Investor Brings Class Suit Over Surprise Diabetes Drug Delay
Biopharmaceutical company Provention Bio Inc. misled its shareholders about the pending approval of its type 1 diabetes drug and caused a stock drop of almost 18%, according to a proposed class action filed Friday in New Jersey federal court.