Trending...
- Equipment Leases, Inc. Launches Updated Family Office Equipment Financing Page
- Expanding Access to Mental Health Care in Toronto with Dr. Stephen Shainbart
- Haven Media Solutions Offers Web Design and PPC Services in Atlanta GA
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Immunovant, Inc. f/k/a Health Sciences Acquisitions Corporation ("HSAC", "Immunovant", or the "Company") (NASDAQ: IMVT) securities between October 2, 2019 and February 1, 2021, inclusive (the "Class Period"). Immunovant investors have until April 20, 2021 to file a lead plaintiff motion.
Investors suffering losses on their Immunovant 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 howardsmith@howardsmithlaw.com.
On September 29, 2019, HSAC entered into an agreement with Immunovant Sciences Ltd. ("Legacy Immunovant") to effect a merger between the two entities (the "Merger").
Immunovant is developing IMVT-1401, a novel fully human monoclonal antibody, which is Phase IIa clinical trials for the treatment of myasthenia gravis ("MG") and thyroid eye disease ("TED"). The Company has also completed initiation of Phase II clinical trials of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia ("WAIHA").
More on The PennZone
On February 2, 2021, the Company issued a press release "announc[ing] a voluntary pause of dosing in its ongoing clinical trials for IMVT-1401." The Company also disclosed that it "has become aware of a physiological signal consisting of elevated total cholesterol and LDL [low-density lipoproteins] levels in IMVT-1401-treated patients" and "[o]ut of an abundance of caution, the Company has decided to voluntarily pause dosing in ongoing clinical studies in both TED and in [WAIHA], in order to inform patients, investigators, and regulators as well as to modify the monitoring program."
On this news, the Company's stock price fell $18.22 per share, or 42.08%, to close at $25.08 per share on February 2, 2021, 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 failed to disclose to investors that: (1) HSAC had performed inadequate due diligence into Legacy Immunovant prior to the Merger, and/or ignored or failed to disclose safety issues associated with IMVT-1401; (2) IMVT-1401 was less safe than the Company had led investors to believe, particularly with respect to treating TED and WAIHA; (3) the foregoing foreseeably diminished IMVT-1401's prospects for regulatory approval, commercial viability, and profitability; 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.
More on The PennZone
If you purchased Immunovant securities, have information or would like to learn more about these claims, or 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 howardsmith@howardsmithlaw.com, 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.
Investors suffering losses on their Immunovant 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 howardsmith@howardsmithlaw.com.
On September 29, 2019, HSAC entered into an agreement with Immunovant Sciences Ltd. ("Legacy Immunovant") to effect a merger between the two entities (the "Merger").
Immunovant is developing IMVT-1401, a novel fully human monoclonal antibody, which is Phase IIa clinical trials for the treatment of myasthenia gravis ("MG") and thyroid eye disease ("TED"). The Company has also completed initiation of Phase II clinical trials of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia ("WAIHA").
More on The PennZone
- Top 5 Most Reliable Used Vans in the UK in 2026
- Dominican Fashion Designer Raiza Bonaparte presents the Sovereign Despampanante Collection at the Library of Congress
- Roohid Parast on How AI Is Changing What Bench Scientists Can Do
- What Happens When Congress Says No? New Book Examines the Boland Amendments, Iran-Contra Affair & Jamaican Posse, as US Congress Debate Over Military
- Warm, Dry Summer Forecast Points to a Stronger Wasp and Yellowjacket Season Across the Pacific Northwest
On February 2, 2021, the Company issued a press release "announc[ing] a voluntary pause of dosing in its ongoing clinical trials for IMVT-1401." The Company also disclosed that it "has become aware of a physiological signal consisting of elevated total cholesterol and LDL [low-density lipoproteins] levels in IMVT-1401-treated patients" and "[o]ut of an abundance of caution, the Company has decided to voluntarily pause dosing in ongoing clinical studies in both TED and in [WAIHA], in order to inform patients, investigators, and regulators as well as to modify the monitoring program."
On this news, the Company's stock price fell $18.22 per share, or 42.08%, to close at $25.08 per share on February 2, 2021, 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 failed to disclose to investors that: (1) HSAC had performed inadequate due diligence into Legacy Immunovant prior to the Merger, and/or ignored or failed to disclose safety issues associated with IMVT-1401; (2) IMVT-1401 was less safe than the Company had led investors to believe, particularly with respect to treating TED and WAIHA; (3) the foregoing foreseeably diminished IMVT-1401's prospects for regulatory approval, commercial viability, and profitability; 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.
More on The PennZone
- Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale
- SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
- Turnstone Creative's Ashley Russo Serves as Emcee for United Way's 2026 NERC and Women's Summit
- A New Pulse for Cardiac Care in Baltimore: St. Elizabeth Rehab & Nursing Welcomes Dr. Hakim Uqdah and Expands Advanced Heart Program
- Lighthouse 153 Brings Fresh Seafood, Craft Beer, and Coastal Charm to Downtown Hanover This Summer
If you purchased Immunovant securities, have information or would like to learn more about these claims, or 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 howardsmith@howardsmithlaw.com, 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.
Filed Under: Business
0 Comments
Latest on The PennZone
- CAPHRA: Australia and Thailand show nicotine prohibition fuels illicit markets
- Custom Disposables - Wholesale Packaging Solutions for restaurants, food chains, and food distributors
- California Security Glass is an affordable bulletproof glass installation company in LA serving a variety of neighboring cities
- Allstream Energy Partners Announce Media Partnership with the 2026 EPC Show - The Energy Projects Conference
- STO Foundation Launching June 29, 2026 to Advance the Global Tokenization Industry
- West Virginia Leaders Announce Support for Election Integrity Network's Model Election Laws Handbook
- CCHR Condemns Behavioral Treatment After FDA's Missed Deadline to Ban Shock Device
- Brilliant Minds to Gather in Fort Worth for National Mensa Event
- UK Financial Ltd Completes One Of The Most Extensive CoinMarketCap Supply Verification Packages For Maya Preferred PRA (MPRA)
- Data Tiles Strengthens U.S. Presence with Chief Revenue Officer John Goode
- Haven Media Solutions Offers Web Design and PPC Services in Atlanta GA
- TREND Network Announces Miami Based Reality Series "Coming Up Miami" Premiering July 1
- Beemok Hospitality Collection And KLH Group Announce Preferred Partnership
- Expanding Access to Mental Health Care in Toronto with Dr. Stephen Shainbart
- Dr. Stephen Shainbart Launches Expanded Mental Health Support for Anxiety and Depression in Toronto
- Equipment Leases, Inc. Launches Updated Family Office Equipment Financing Page
- The $5 Million Man Still Begging: Incumbent Jimmy Panetta Hits Up Voters for More Cash Despite Massive War Chest
- Kevin Francis Design Introduces CHROMA, a Collection of Saturated Solid Color Wool Rugs
- $150+ Million Contracted Backlog, Strategic Acquisitions Adding Millions In Recurring Revenue, Improving Margins & A Clear Path Toward Profitability
- Record Revenue Growth, AI-Driven Healthcare Innovation, Expanding Proprietary Brand and Targeting $200 Million Revenue By 2029: Cosmos Health Inc