LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Juno Therapeutics, Inc. (“Juno” or the “Company”) (NASDAQ: JUNO) securities between June 4, 2016 and July 7, 2016, inclusive (the “Class Period”). Juno investors have until September 12, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Juno investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
According to the Complaint, Juno materially misled investors by failing to disclose the May 2016 death of a patient in the Company’s Phase 2 trial of product candidate JCAR015. These omissions caused Juno to trade at artificially inflated prices, and certain insiders participated in the heavy selling of shares in the weeks prior to the disclosure of the death. Then, following the death of two other patients in June and July, the U.S. Food and Drug Administration issued a clinical hold on the study, and Juno disclosed the patients’ deaths.
On this news, Juno's share price fell significantly in value, dropping almost 32%, or $13.01 per share, to close at $27.81 per share on July 8, 2016.
Then on Wednesday, July 13, 2016, after the close of trading, the Company corrected its prior statement regarding the number of patient deaths, and disclosed that four, not three, patients had died during the clinical trials of JCAR015. On this news, shares of Juno fell as much as 5% during intraday trading on July 14, 2016.
If you purchased shares of Juno during the Class Period you may move the Court no later than September 12, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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