1. Pomerantz LLP is investigating Valneva for potential securities fraud. 2. CDC is looking into cardiac issues linked to Valneva's chikungunya vaccine. 3. Valneva's ADR price dropped 13.57% following CDC's notice. 4. Investors advised to contact Pomerantz regarding class action claims.
The investigation and CDC announcement create significant concerns about Valneva's product safety and credibility, leading to investor distrust and price decline, similar to past instances with other biotech firms facing scrutiny like Valeant Pharmaceuticals.
The ongoing investigation and potential lawsuit pose a significant threat to Valneva's market position and investor confidence.
Immediate fallout from the CDC's findings and legal uncertainties will likely affect investor sentiment in the near term.
NEW YORK, March 4, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Valneva SE ("Valneva" or the "Company") (NASDAQ: VALN). Such investors are advised to contact Danielle Peyton at info@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Valneva and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Click here for information about joining the class action
On February 25, 2025, the U.S. Centers for Disease Control and Prevention ("CDC") posted a notice on its website announcing that "CDC is currently investigating five hospitalizations for cardiac or neurologic events following vaccination with IXCHIQ [Valneva's chikungunya virus vaccine] among people 65 years of age and older."
Following the CDC's announcement and subsequent reporting by media outlets, Valneva's American Depositary Receipt ("ADR") price fell $1.06 per ADR, or 13.57%, over the following four trading sessions, to close at $6.75 per ADR on February 28, 2025.
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.
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CONTACT: Danielle Peyton
Pomerantz LLP
info@pomlaw.com
646-581-9980 ext. 7980
SOURCE Pomerantz LLP