Faruqi & Faruqi, LLP Appointed Sole Lead Counsel in Dynavax Technologies Corporation
On September 27, 2013, Faruqi & Faruqi, LLP, a leading national securities law firm, was appointed sole lead counsel in In re Dynavax Technologies Corporation Securities Litigation, No. CV 13-2796 (CRB) (N.D. Cal.).
The action alleges that Dynavax Technologies Corporation (“Dynavax” or the “Company”) (NASDAQ: DVAX) made materially false and misleading statements regarding the viability of HEPLISAV, the Company’s lead product candidate.
Specifically, the action focuses on whether Dynavax failed to disclose: (i) that the clinical trial for HEPLISAV was flawed in that it was not representative of the United States population and did not provide information regarding concurrent use of HEPLISAV with other vaccines; and (ii) the Company did not provide the Food and Drug Administration (“FDA”) with adequate information regarding HEPLISAV manufacturing processes and controls.
On June 10, 2013, Dynavax issued a press release announcing that the FDA would require additional safety trials prior to granting approval of HEPLISAV. Following this news, Dynavax’s stock price dropped $1.07 or 43%.
If you invested in Dynavax stock or options between April 26, 2012 and June 10, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Dynavax’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.