SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in securities class litigation brought on behalf of investors who purchased or otherwise acquired the securities of Juno Therapeutics, Inc. (“Juno” or the “Company”) (Nasdaq: JUNO) between June 4, 2016 and July 7, 2016, inclusive (the “Class Period”).
If you purchased or acquired Juno securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than September 12, 2016. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Juno investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
The action alleges that Juno made misrepresentations and omissions regarding adverse trial outcomes in the development of their leading biopharmaceutical product candidate, JCAR015.
Specifically, the action alleges that Juno failed to disclose that a patient enrolled in Juno’s JCAR015’s Phase 2 trial had died of a cerebral edema in May 2016. Juno consulted with the U.S. Food and Drug Administration (“FDA”) about the appropriate response, but also concealed information about the patient’s death from investors.
On June 4, 2016 the Company issued a press release that touted JCAR015’s “[l]ower side effects” and, while partially disclosing that “Grade 3 or higher neurotoxicity was observed in 15/51 (29%) patients” in JCAR015’s Phase 1 trial, the Company did not mention the death of the patient the previous month.
On July 7, 2016 Juno announced that the FDA had issued a clinical hold on the JCAR015 Phase 2 trial after two more patients had died. In a conference call with analysts that evening, Juno Chief Executive Officer finally revealed that “[t]here was also one previous death from cerebral edema on the trial in May.” On this news, Juno’s share price fell $13.01, or 31.87%, from its closing price on July 7, 2016 to close at $27.81 per share on July 8, 2016, on extremely heavy trading volume.
In the weeks leading up to these revelations, Bishop and other Juno insiders sold a substantial amount of their Company stock.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Best Lawyers and U.S. News have named Lieff Cabraser as a “Law Firm of the Year” for each year the publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.
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