Pomerantz Settles Securities Litigation with Novavax for $47 Million

Pomerantz recently achieved a $47 million settlement on behalf of defrauded investors in a securities litigation against the American biotechnology company Novavax. The suit revolves around allegedly misleading statements made regarding the development and imminent approval of the company’s Covid-19 vaccine candidate.

Pomerantz Appointed Co-Lead Counsel in Novavax Securities Litigation

On January 26, 2022, U.S. District Judge Theodore D. Chuang of the District of Maryland appointed Pomerantz LLP as Co-Lead Counsel on behalf of Nuggehalli Balmukund Nandkumar and Jeffrey A. Gabbert, Co-Lead Plaintiffs with another Co-Lead Plaintiff in Sinnathurai v. Novavax, Inc., 21-cv-2910 (D. Md.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Novavax, Inc. failed to disclose manufacturing issues with its lead vaccine candidate for COVID-19. Novavax is a biopharmaceutical company that develops vaccines to prevent serious infectious diseases, including NVX-CoV2373, its coronavirus vaccine…