A private law firm is investigating whether Novavax misled investors about manufacturing problems with its COVID-19 vaccine before its stock fell in October 2021. No lawsuit has been certified and there is nothing to claim yet.
Novavax Stock Class Action Lawsuit
**This article is about an ongoing investigation by a private law firm into Novavax, Inc's practices and alleges Novavax has been misleading investors of its publicaly traded stock.**
On October 19, 2021, after the market closed, Politico published an article, entitled "They Rushed the Process: Vaccine Maker's woes hamper global inoculation campaign", stating that "manufacturing problems are jeopardizing billions of doses earmarked for poor and middle-income countries." The article further stated that "Although Novavax recently attested to some of its analytics and testing issues … the company's issues are more concerning than previously understood, according to two of the people with direct knowledge of the matter."
On this news, Novavax shares fell sharply during intraday trading on October 20, 2021, damaging investors. Since then, the stock has fallen to new lows as it has failed to deliver Covid-19 vaccines in time for market demand.
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