Le Lézard
Classified in: Business, Covid-19 virus
Subject: ATY

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Eiger BioPharmaceuticals, Inc., of Class Action Lawsuit and Upcoming Deadline - EIGR


NEW YORK, Dec. 5, 2022 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Eiger BioPharmaceuticals, Inc. (NASDAQ: EIGR), and certain officers. The class action, filed in the United States District Court for the Northern District of California, and docketed under 22-cv-06985, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Eiger securities between March 10, 2021 and October 4, 2022, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchase or otherwise acquired Eiger securities, you have until January 9, 2023 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Eiger is a commercial-stage biopharmaceutical company that focuses on the development and commercialization of targeted therapies for rare and ultra-rare diseases. 

Eiger's product candidates include, among others, peginterferon lambda. Peginterferon lambda is being evaluated for, inter alia, the treatment of COVID-19 in the TOGETHER study, which is an independent multi-center, investigator-sponsored, randomized, placebo-controlled adaptive platform Phase 3 study evaluating multiple therapeutics in newly diagnosed, high-risk, non-hospitalized patients with mild-to-moderate COVID-19. Peginterferon lambda was added to the TOGETHER study in May 2021.

In March 2022, based on the results of the TOGETHER study, Eiger announced that it would submit an Emergency Use Authorization ("EUA") request to the U.S. Food and Drug Administration ("FDA") for peginterferon lambda for the treatment of patients with mild-to-moderate COVID-19 (the "peginterferon lambda EUA").

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants overstated Eiger's clinical and regulatory drug development expertise; (ii) Defendants failed to properly assess, and/or ignored issues with, the design of the TOGETHER study and its ability to support the peginterferon lambda EUA; (iii) there were issues with the conduct of the TOGETHER study and/or the TOGETHER study was not properly designed for the peginterferon lambda EUA in the current context of the pandemic; (iv) as a result, the FDA was unlikely to approve the submission of a peginterferon lambda EUA; (v) as a result of all the foregoing, peginterferon lambda's regulatory and commercial prospects for the treatment of COVID-19 were overstated; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.

On September 6, 2022, Eiger issued a press release "provid[ing] an update on the status of its planned request for [EUA] of peginterferon lambda for the treatment of patients with mild-to-moderate COVID-19 based on its most recent communications with the [FDA]." Specifically, the Company announced that "[f]ollowing a cooperative and extensive pre-EUA information exchange with [the] FDA regarding the Phase 3 TOGETHER study of peginterferon lambda for COVID-19, the agency has indicated that it is not yet able to determine whether the criteria for the submission of an application and issuance of an EUA are likely to be met." 

On this news, Eiger's stock price fell $2.51 per share, or 29.36%, to close at $6.04 per share on September 6, 2022. 

Then, on October 5, 2022, Eiger announced that it would not seek an EUA request for peginterferon lambda after the FDA had "denied the request for a pre-EUA meeting." Specifically, the Company disclosed that, "[c]iting its concerns about the conduct of the TOGETHER study, [the] FDA concluded that any authorization request based on the[] data [presented] is unlikely to meet the statutory criteria for issuance of an EUA in the current context of the pandemic."

On this news, Eiger's stock price fell $0.37 per share, or 5.01%, to close at $7.02 per share on October 5, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP


These press releases may also interest you

at 23:00
LeoLabs, the leading commercial provider of Space Domain Awareness (SDA) services and low Earth orbit (LEO) mapping, announced the commissioning of the LeoLabs West Australian Space Radar (WASR). This radar site, located in Western Australia, adds...

at 22:28
Companies using OneBill's platform to manage their billing and monetization operations will now have the advantage of leveraging powerhouse Hubspot's intelligent CRM tools, thanks to a newly developed integration....

at 22:24
TSX VENTURE COMPANIES HIGH TIDE INC. ("HITI.WT")BULLETIN TYPE:  Warrant Expiry-DelistBULLETIN DATE:  January 30, 2023TSX Venture Tier  2 Company Effective at the opening, February 02, 2023, the Share Purchase Warrants of the Company will trade for...

at 22:08
It was announced today, the United Kingdom will play host of an important international gathering of literacy specialists who will come together to address the spike in illiteracy rates post pandemic. The World Literacy Summit 2023 will be held at...

at 22:05
Hampton Financial Corporation ("Hampton" or the "Company", TSXV:HFC & HFC.PR.A) today announced its financial results for the 1st quarter ended November 30th, 2022. "The first quarter results are indicative of the challenges faced across the...

at 22:00
BIT, a professional cryptocurrency exchange, has collaborated with Circle Internet Financial (Circle), a global financial...



News published on 5 december 2022 at 00:31 and distributed by: