Faruqi and Faruqui, LLP Logo
Share this page

Faruqi & Faruqi, LLP Obtains Significant Victories On Behalf Of Investors In In re Dynavax Technologies Corporation Securities Litigation

February 26, 2015

Faruqi & Faruqi, LLP Obtains Significant Victories On Behalf Of Investors In In re Dynavax Technologies Corporation Securities Litigation

(NASDAQ: DVAX)

On February 20, 2015, United States District Judge Charles Breyer denied, in part, a motion to dismiss filed by Dynavax, Chief Executive Officer Dino Dina, Chief Medical Officer J. Tyler Martin, and director Mark Kessel and a motion to dismiss filed by Symphony Capital Partners, LP, Symphony Strategic Partners, LLC, Symphony Capital GP, LP, and Symphony GP, LLC (together “Symphony”).  The Court sustained claims alleging that Dynavax, Dina, and Martin violated the federal securities laws by making materially false and misleading statements and omissions regarding the prospects for approval of Dynavax’s Biologic License Application for its Hepatitis B vaccine, HEPLISAV.  The Court also sustained claims alleging that Kessel and Symphony, directly and as control persons, engaged in insider trading by selling common stock while in possession of confidential information regarding the failed inspection of Dynavax’s manufacturing facility for HEPLISAV.

<< Back