NEW YORK, July 22, 2016 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Juno Therapeutics, Inc. ("Juno" or the "Company") (NASDAQ: JUNO) and certain of its officers. The class action, filed in United States District Court, Western District of Washington, and docketed under 16-cv-01083, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Juno securities between June 4, 2016 and July 7, 2016 inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
If you are a shareholder who purchased Juno securities during the Class Period, you have until September 12, 2016 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Juno is a biopharmaceutical company that is developing cell-based cancer immunotherapies. Its leading product candidate is called JCAR015, which is currently in clinical trials.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: Defendants made misleading partial disclosures about JCAR015's safety and made public misrepresentations or failed to disclose material facts of the death of patients in its Phase 2 clinical trial.
In May 2016, a patient in the Phase 2 trial of JCAR015—dubbed the "ROCKET" trial by Juno—died of a cerebral edema, a form of neurotoxicity. In late June or early July, two more patients in the ROCKET trial died of cerebral edemas. This caused the FDA to issue a clinical hold and forced Defendants to reveal the truth, which they finally did on July 7, 2016, after the market closed. On this news, the Company's share price fell $13.01, or 31.87%, to close at $27.81 on July 8, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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