NEW YORK, Sept. 21, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Legend Biotech Corporation ("Legend" or the "Company") (NASDAQ: LEGN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Legend and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 21, 2020, Legend issued a press release announcing that its Chief Executive Officer, Dr. Fangliang Zhang, has been placed under residential surveillance by Chinese law enforcement authorities. In addition, Legend announced that the Chinese Customs Anti-Smuggling Department has inspected certain business facilities of GenScript Biotech Corporation, Legend's parent and majority shareholder, in connection with suspected violations of import and export regulations under Chinese law. On this news, Legend's stock price fell sharply during intraday trading on September 21, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP