Levi & Korsinsky announces it has commenced a class action in the USDC for the Northern District of California on behalf of shareholders of Dynavax Technologies Corporation (NASDAQ: DVAX) who purchased shares between March 10, 2014 and November 11, 2016.
The complaint alleges that during the Class Period Dynavax made false and/or misleading statements and/or failed to disclose that: (i) the phase 3 HBV-23 trial for the Company’s lead vaccine product HEPLISAV-B was not designed in accordance with the U.S. Food and Drug Administration’s concerns and issues, as pointed out in a 2013 Complete Response Letter; (ii) Dynavax failed to provide sufficient information to the FDA in its Revised Biologics License Application for the drug; (iii) Dynavax’s resources will not be sufficient for the Company to advance the HEPLISAV-B program on its own; and (iv) as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about Dynavax’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Dynavax you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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