Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Sesen To Contact Him Directly To Discuss Their Options
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Sesen Bio, Inc. (“Sesen” or the “Company”) (NASDAQ: SESN) and reminds investors of the October 18, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in Sesen stock or options between December 21, 2020 and August 17, 2021 and would like to discuss your legal rights, Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) that Sesen Bio’s clinical trial for Vicineum had more than 2,000 violations of trial protocol, including 215 classified as “major”; (2) that three of Sesen Bio’s clinical investigators were found guilty of “serious noncompliance,” including “back-dating data”; (3) that Sesen Bio had submitted the tainted data in connection with the BLA for Vicineum; (4) that Sesen Bio’s clinical trials showed that Vicineum leaked out into the body, leading to side effects including liver failure and liver toxicity, and increasing the risks for fatal, drug-induced liver injury; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On August 18, 2021, before the market opened, STAT published an article entitled “Sesen Bio trial of cancer drug marked by misconduct and worrisome side effects, documents show.” Citing “hundreds of pages of internal documents” and “three people familiar with the matter,” the article detailed that the clinical trial for Vicineum was “marked by thousands of violations of study rules, damning investigator conduct, and worrying signs of toxicity the company did not publicly disclose.”
The STAT article further stated that Vicineum had led to “worrisome side effects,” including “a serious risk for fatal, drug-induced liver injury.”
On this news, the Company’s share price fell $0.20, or 13%, to close at $1.31 per share on August 18, 2021, on unusually heavy trading volume.
Sesen Bio, Inc. (SESN)
* The submission of this form does not create an attorney-client relationship.
Filed on 08/20/2021
Lead Plaintiff Deadline 10/18/2021
2 days remaining
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Phone (212) 983-9330
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Robert W. Killorin email@example.com Phone (404) 847-0617 Fax (404) 506-9534
James M. Wilson, Jr. firstname.lastname@example.org Phone (212) 983-9330 Fax (212) 983-9331