By Daniel Webster, dWeb.News Publisher
SAN DIEGO, Oct. 09, 2021 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Sesen Bio, Inc. (“Sesen Bio” or the “Company”) (NASDAQ: SESN). The class action is on behalf of shareholders who purchased Sesen Bio common stock between December 12, 2020 and August 17, 2021. If you wish to serve as lead plaintiff in this class action, you must move the Court no later than October 18, 2021.
The filed complaint alleges that Sesen Bio made materially false and misleading statements and failed to disclose that: (1) Sesen Bio’s clinical trial for its cancer treatment product, Vicineum, had more than 2,000 violations of trial protocol, including 215 classified as “major”; (2) three of Sesen Bio’s clinical investigators were found guilty of “serious noncompliance,” including “back-dating data”; (3) Sesen Bio had submitted the tainted data in connection with the Biologics License Application (“BLA”) for Vicineum; (4) Sesen Bio’s clinical trials showed that Vicineum leaked out into the body, leading to side effects including liver failure and liver toxicity, and increasing the risks for fatal, drug-induced liver injury; (5) as a result of the foregoing, the Company’s BLA for Vicineum was not likely to be approved; (6) as a result of the foregoing, there was a reasonable likelihood that Sesen Bio would be required to conduct additional trials to support the efficacy and safety of Vicineum; and (7) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable basis. A lead plaintiff will represent all class members in the Sesen Bio class action lawsuit. To litigate the class action lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future Sesen Bio class-action lawsuit recovery is not tied to being the lead plaintiff.
If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. Please include your phone number if you are emailing.
Additionally, you can [click here to join this action]. There are no costs or obligations.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents institutional and individual investors in shareholder derivative lawsuits and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Advertising for attorneys. Past results are not indicative of future outcomes.
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