PHILADELPHIA, Feb. 19, 2021 /PRNewswire/ -- Berger Montague is investigating potential securities fraud claims against bluebird bio, Inc. ("bluebird" or the "Company") on behalf of investors who purchased bluebird securities (NASDAQ: BLUE) between May 11, 2020 and November 4, 2020 (the "Class Period").
If you purchased bluebird securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague's investigation, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Donnell Much at [email protected] or (215) 875-4667, or contact us at: www.bergermontague.com/bluebird.
According to a recently filed lawsuit, defendants misled investors during the Class Period by, among other things: (i) failing to disclose that the data supporting bluebird's Biologics License Application ("BLA") submission for LentiGlobin, a gene therapy intended to treat sickle cell disease, was insufficient to demonstrate drug product comparability; (ii) downplaying the potential impact of COVID-related disruptions on the Company's BLA submission schedule; and (iii) failing to inform the market that it was foreseeable that bluebird would not submit the BLA for LentiGlobin in the second half of 2021.
The lawsuit alleges that investors learned the truth on November 4, 2020, when bluebird disclosed that it would no longer submit its BLA for LentiGlobin in the second half of 2021. Instead, citing "feedback" from the FDA requiring the Company to provide additional data demonstrating "drug product comparability," as well as COVID-related "shifts and contract manufacturing" impacts, bluebird adjusted its submission timing to late 2022.
On this news, bluebird's stock price fell $9.72 per share, or 16.6%, to close at $48.83 per share on November 5, 2020.
If you purchased bluebird securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is April 13, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding bluebird are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Donnell Much, Associate
SOURCE Berger Montague