NEW ORLEANS, March 24, 2023 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 3, 2023 to file lead plaintiff applications in a securities class action lawsuit against Invivyd, Inc. (the "Company") (NasdaqGM: IVVD) f/k/a Adagio Therapeutics, Inc. ("Adagio") (NasdaqGM: ADGI), if they purchased the Company's shares between November 29, 2021 and December 14, 2021, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Massachusetts.
Invivyd investors should visit us at https://claimsfiler.com/cases/nasdaq-ivvd/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Invivyd and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 14, 2021, the Company (then named Adagio) disclosed that in vitro test results for ADG20, its lead product candidate against the COVID-19 Omicron variant, revealed that it was 300 times less effective at neutralizing Omicron than it was against the other variants, despite assuring investors of the efficacy against Omicron only a few weeks prior.
On this news, shares of Adagio plummeted nearly 80%, from $34.26 per share on December 13, 2021, to $7.26 per share when the market closed on December 14, 2021.
The case is Brill v. Invivyd, Inc., No. 23-cv-10254.
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