BioNTech – Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against BioNTech SE (“BioNTech” or “the Company”) (NASDAQ: BNTX) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired BioNTech securities from March 30, 2022 through October 13, 2023 (the “Class Period”). Investors who acquired BioNTech securities during this defined timeframe are strongly encouraged to participate in this case by contacting email@example.com. The deadline to file a motion for appointment of lead plaintiff is March 12, 2024.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased BioNTech securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST BIONTECH
BioNTech, a biotech company, collaborates with Pfizer to develop and sell Comirnaty, a COVID-19 vaccine. The company faced challenges as the Omicron XBB.1.5 subvariant emerged, impacting demand. Allegedly, BioNTech made false statements about Comirnaty’s demand, leading to financial repercussions. In August 2022, Q2 financial results fell short of estimates, citing pandemic-related order fluctuations. In March 2023, forecasted vaccine revenues for 2023 were lower than expected, causing a drop in BioNTech’s stock price. Pfizer’s October 2023 announcement of lower-than-expected utilization resulted in a significant charge, affecting BioNTech’s stock further. The November 2023 financial results confirmed reduced revenues due to Pfizer’s inventory write-downs. The complaint alleges significant losses for investors throughout this period.
- BioNTech SE is a German biotechnology company that specializes in the development and commercialization of immunotherapies, particularly for the treatment of cancer and infectious diseases. The company is known for its collaboration with Pfizer Inc., with whom it co-developed the COVID-19 vaccine known as Comirnaty.
- Founded in 2008, BioNTech has played a crucial role in advancing mRNA technology, which is the foundation of the COVID-19 vaccine it developed. The company’s focus extends beyond infectious diseases, and it is actively involved in developing personalized cancer immunotherapies based on individual patients’ genetic profiles.
- BioNTech went public on the Nasdaq Stock Market in 2019 under the ticker symbol “BNTX.” The success of the COVID-19 vaccine has significantly boosted the company’s global profile and market value.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in BioNTech during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is March 12, 2024. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.