OAKLAND, Calif.--(BUSINESS WIRE)--Vaxart, Inc. shares fell significantly after reports that the company may have misled investors regarding its inclusion in Operation Warp Speed, the U.S. government program aimed at developing and delivering COVID-19 vaccines and therapies. Gibbs Law Group is investigating a potential Vaxart Class Action Lawsuit on behalf of investors who lost money in Vaxart, Inc. (NASDAQ: VXRT) stock.
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
Vaxart stock plummeted after The New York Times published an article stating that after Vaxart announced that it was selected by the government to be part of Operation Warp Speed, company insiders saw the value of their stock options soar, and a hedge fund that partly controlled the company gained nearly $200 million in instant profits. However, the article states that the company’s reality is “more complex” than the announcement may have stated.
While Vaxart’s vaccine has been selected for a trial being organized in conjunction with Operation Warp Speed, Vaxart is not one of the companies selected to receive significant funding from the operation to mass-produce vaccine doses, according to The New York Times.
The article explains that one senior government official even said that “some officials at the Department of Health and Human Services have grown concerned about whether companies including Vaxart are trying to inflate their stock prices by exaggerating their roles in Warp Speed.”
Following this news, on Vaxart’s stock price dropped 9% in one day, causing significant harm to investors.
What Should Vaxart Investors Do?
If you invested in Vaxart, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Vaxart, Inc. and certain of its officers and/or directors have violated federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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August 13, 2020 at 05:32AM
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Lost Money in Vaxart, Inc.? - Business Wire
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