Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against bluebird bio, Inc. (BLUE)

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 28, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased bluebird bio, Inc. (“bluebird” or the “Company”) (NASDAQ: BLUE) common stock between April 24, 2023 and December 8, 2023, inclusive (the “Class Period”).

Investors suffering losses on their bluebird investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at [phone] or by email to [e-mail].

On December 8, 2023, bluebird announced that it had received approval from the U.S. Food and Drug Administration (“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 every six months as warranted. Additionally, the Company’s anticipated priority review voucher was denied by the FDA.

On this news, bluebird’s stock price fell $1.95, or 40.5%, to close at $2.86 per share on December 8, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants misled investors by creating the false impression that: (1) they could obtain FDA approval for lovo-cel without any black box warnings for haematological malignancies; (2) 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; (3) as a result, the Company had significantly overstated Lyfgenia’s clinical and/or commercial prospects; and (4) 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.

If you purchased or otherwise acquired bluebird common stock during the Class Period, you may move the Court no later than May 28, 2024 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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