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The filed complaint alleges that SIGA Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: On September 25, 2024, video was released of Dr. Varma detailing how he and SIGA were engaged in a media "spin" campaign to salvage TPOXX as a mpox treatment and preserve the Company's stock price despite disappointing top line results in the PALM 007 clinical trial. According to Dr. Varma, the media "spin" campaign was designed to convince investors "not to dump the stock, thinking that the Company was worthless" while conceding that pursuit of TPOXX as a treatment for mpox might not even be worth it because "there's only a few thousand cases in the United States." Following this news, the stock dropped over 15% on September 25, 2024.
In order to be eligible to join the SIGA class action lawsuit, you must have incurred a loss on shares of SIGA Technologies, Inc. purchased during the class period listed above.
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