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The filed complaint alleges that 2seventy bio, Inc. made materially false and/or misleading statements and/or failed to disclose that: 2seventy bio issued a press release on September 25, 2024, announcing that it "will discontinue enrollment in its ongoing Phase 3 KarMMa-9 study evaluating Abecma® (idecabtagene vicleucel; ide-cel) with lenalidomide maintenance versus lenalidomide maintenance alone in patients with newly diagnosed multiple myeloma (NDMM) who have suboptimal response to autologous stem cell transplant." Explaining the decision, the Company's Chief Executive Officer cited "a greatly improved NDMM treatment landscape and . . . our rigorous review of the business case for the KarMMa-9 study". Following this news, 2seventy bio's stock price fell over 9% on September 25, 2024.
In order to be eligible to join the TSVT class action lawsuit, you must have incurred a loss on shares of 2seventy bio, Inc. purchased during the class period listed above.
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