Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Vaxart, Inc. (VXRT)

BENSALEM, Pa., Oct. 19, 2020 /PRNewswire/ -- Law Offices of Howard G. Smith reminds investors of the upcoming October 23, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Vaxart, Inc. ("Vaxart" or the "Company") (NASDAQ: VXRT) securities between June 25, 2020 and July 25, 2020, inclusive (the "Class Period").

Investors suffering losses on their Vaxart investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

On June 26, 2020, Vaxart issued a news release announcing that it had been selected for Operation Warp Speed ("OWS"), the federal initiative to quickly develop drugs to combat the coronavirus.

On July 25, 2020, a New York Times article revealed that Vaxart's vaccine candidate was included in a trial on primates that a federal agency was organizing in conjunction with Operation Warp Speed. However, the Company was not selected to receive significant financial support from Operation Warp Speed.

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 failed to disclose to investors: (1) that Vaxart had exaggerated the prospects of its COVID-19 vaccine candidate, including its purported role or involvement in OWS; (2) that Vaxart's COVID-19 vaccine candidate had no reasonable prospect for mass production and marketing and was not among the companies selected to receive significant financial support from OWS to produce hundreds of millions of vaccine doses; (3) that, in reality, the Company's COVID-19 vaccine candidate was merely selected to participate in preliminary U.S. government studies to determine potential areas for possible OWS partnership and support; and (4) that, at the time Defendants' statements were made, those studies were ongoing, and no determination had been made.

If you purchased or otherwise acquired Vaxart securities, you may move the Court no later than October 23, 2020 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 (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

SOURCE Law Offices of Howard G. Smith