Valneva SE Faces Investigation for Possible Securities Fraud
Valneva SE Under Investigation for Securities Fraud
Pomerantz LLP has initiated an investigation on behalf of investors of Valneva SE (NASDAQ: VALN). This inquiry is focused on whether the company, along with certain officers and directors, has engaged in securities fraud or illegal business activities.
Recent Developments Affecting Valneva SE
Notably, the U.S. Centers for Disease Control and Prevention (CDC) recently posted about five hospitalizations resulting from cardiac or neurologic issues following the administration of Valneva’s chikungunya virus vaccine, IXCHIQ, specifically among individuals 65 years and older. This concerning announcement raised questions about the safety of the vaccine and prompted scrutiny from multiple stakeholders.
Impact on Stock Performance
Following the CDC’s report, Valneva’s American Depositary Receipt (ADR) experienced a sharp decline. The price per ADR fell by approximately $1.06, equivalent to 13.57%, in merely four trading sessions, closing at $6.75.
FDA Suspension of Marketing Application
The situation deteriorated further on a subsequent date when the U.S. Food and Drug Administration (FDA) announced the suspension of the marketing application for IXCHIQ due to ongoing safety concerns. This news resulted in a second significant drop in Valneva's ADR price, which fell by $2.21, translating to an 18.99% decrease, closing at $9.43 on the trading day following the announcement.
Pomerantz LLP: A Leader in Class Action Litigation
Pomerantz LLP has built a strong reputation in the realms of corporate, securities, and antitrust class litigation. The firm was founded by Abraham L. Pomerantz, often recognized as a pioneer in securities class actions. Having been in operation for over 85 years, Pomerantz has secured substantial damages for victims of corporate misconduct, committing themselves to the rights of those affected by such actions.
How Investors Can Respond
Investors who have been impacted by Valneva's recent disclosures are encouraged to reach out to Pomerantz LLP. Danielle Peyton is the contact person for those wishing to learn more about their rights and potential involvement in the class action investigation.
Contact Information for Legal Assistance
For assistance, reach out to Danielle Peyton at Pomerantz LLP via email at dpeyton@pomlaw.com or call 646-581-9980, ext. 7980.
Frequently Asked Questions
What is the reason for the Valneva SE investigation?
The investigation is centered around potential securities fraud or illegal business practices by Valneva and its officers or directors.
How has Valneva's stock performed recently?
Valneva’s ADR price dropped significantly after CDC and FDA announcements regarding safety concerns linked to its vaccine, IXCHIQ.
What should affected investors do?
Affected investors are advised to contact Pomerantz LLP for information about their legal rights in relation to Valneva's situation.
Who can investors contact for more information?
Danielle Peyton at Pomerantz LLP is the primary contact for investors seeking more information regarding the investigation.
What is Pomerantz LLP's background?
Pomerantz LLP is recognized as a leading firm in the class action field, focusing on corporate and securities litigation with a history of successful recoveries for class members.
About The Author
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