Newstrail.com

Search

bluebird bio Inc (NASDAQ: BLUE) Investor Alert: Lawsuit seeks to Recover Losses for certain Investors

Shareholders_Foundation_Logo

An investor, who purchased shares of bluebird bio Inc (NASDAQ: BLUE), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by bluebird bio Inc in connection with certain allegedly false and misleading statements made between April 24, 2023 and December 8, 2023.

 

If you purchased a significant amount of shares of bluebird bio Inc (NASDAQ: BLUE) between April 24, 2023 and December 8, 2023, and / or if you purchased any NASDAQ: BLUE shares prior to April 2023 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 28, 2024. NASDAQ: BLUE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

 

Somerville, MA based bluebird bio, Inc. is a biotechnology company that researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ßthalassemia; LYFGENIA (lovotibeglogene autotemcel) for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.

 

On April 24, 2023, Defendants announced submission of its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for lovotibeglogene autotemcel (lovo-cel) gene therapy in patients with sickle cell disease (SCD) ages 12 and older who have a history of vaso-occlusive events (VOEs). The BLA also included a request for priority review, which, if granted, would shorten the FDA’s review of the application to six months from the time of filing, versus a standard review timeline of 10 months.

 

On December 8, 2023, Blue issued a press release announcing that it received
approval from the FDA for its ex-vivo gene therapy drug Lyfgenia for sickle cell disease. Along with the approval came a black box warning for haematological malignancies with a requirement to monitor patients for cancer through complete blood counts at least every six months for at least 15 years, plus viral vector integration site analysis at month 6, 12 and as warranted. Further, the Company’s anticipated priority review voucher was denied by the FDA.

 

Shares of bluebird bio Inc (NASDAQ: BLUE) declined from $5.20 per share in May 2023, to as low as $0.88 per share on February 2024.

 

According to the complaint the plaintiff alleges on behalf of purchasers of bluebird bio Inc (NASDAQ: BLUE) common shares between April 24, 2023 and December 8, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 24, 2023 and December 8, 2023, the Defendants misled investors by creating the false impression that they could obtain FDA approval for lovo-cel without any black box warnings for haematological malignancies, that they would be granted a priority review voucher by the FDA and in turn sell it in order to strengthen their financial position for the lovo-cel launch, that as a result, the Company had significantly overstated Lyfgenia’s clinical and/or commercial prospects, and that as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

 

Those who purchased shares of bluebird bio Inc (NASDAQ: BLUE) have certain options and should contact the Shareholders Foundation.

 

Contact:

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone:  +1-(858)-779-1554
Fax:  +1-(858)-605-5739
mail@shareholdersfoundation.com

About:

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Facebook
Twitter
LinkedIn
Pinterest