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 Novocure Limited (“Novocure” or “the Company) (NASDAQ: NVCR) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired Novocure Limited securities from January 10, 2023 through June 5, 2023 (the “Class Period”). Investors who acquired Novocure securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is August 18, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased Novocure 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 NOVOCURE LIMITED
The complaint alleges that defendant Novocure Limited made false and/or misleading statements and/or failed to disclose that: (i) the Company concealed the true nature of the LUNAR study data, including that the study relied on a relatively small percentage of study participants that had been receiving standard of care therapy; (ii) as a result, the data was materially less reliable in terms of demonstrating clinical efficacy; (iii) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company’s regulatory prospects and operations; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
ABOUT NOVOCURE LIMITED
What does Novocure Limited do?
- Novocure Limited is a global oncology company that focuses on developing and commercializing innovative therapies for the treatment of cancer. The company’s primary technology is called Tumor Treating Fields (TTFields), which is a non-invasive treatment modality that uses electric fields to disrupt cancer cell division and inhibit tumor growth. Novocure’s TTFields therapy has been approved for the treatment of certain types of brain tumors, including glioblastoma, and is being investigated for other cancer types as well.
- In the early years, Novocure primarily focused on glioblastoma, an aggressive form of brain cancer. They conducted clinical trials and obtained regulatory approvals for the use of TTFields therapy in glioblastoma patients. In 2011, the U.S. Food and Drug Administration (FDA) granted Novocure approval for the commercial sale of their TTFields therapy system for the treatment of recurrent glioblastoma.
- Over time, Novocure expanded its clinical research and development efforts to evaluate the efficacy of TTFields therapy in other cancer types, including mesothelioma, non-small cell lung cancer, pancreatic cancer, ovarian cancer, and brain metastases. The company has conducted multiple clinical trials and obtained additional regulatory approvals for the use of TTFields therapy in various indications.
When and where was Novocure Limited started?
- Novocure is an Israeli company. It was founded in 2000 and is headquartered in Haifa, Israel.
- Professor Yoram Palti started Novocure in 2000. He has been the Company’s Chief Technology Officer, serving as a consultant, since 2000 and was a director of Novocure from the year 2002 to 2018.
- The company operates globally and has offices and facilities in multiple countries, including but not limited to the United States, Switzerland, Germany, Japan, and Australia.
Where is Novocure Limited headquartered in the United States?
- In the United States, Novocure has its headquarters in St. Helier, Jersey, which is a British Crown Dependency located in the Channel Islands. Novocure has U.S. operations in Portsmouth, New Hampshire, Malvern, Pennsylvania and New York City.
When did Novocure Limited go public?
- Novocure’s stock opened with $22.00 in its Oct 9, 2015 IPO.
JOIN THIS CASE
It is crucial 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 Novocure stock 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 August 18, 2023. 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 is 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, such as in this current case. 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.
Investors who believe they may qualify as potential class members in the class action lawsuit against Novocure are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.
ABOUT US
For more information as well as to join this case please contact Atara Twersky, Esq. at atara@twerskylawgroup.com. Atara is Principal at Twersky Law Group and of counsel at AF&T Law Firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries, listen to Atara ’s Pension and Investments Podcast with notable guests in the pension fund Industry that discusses various matters relating to investment portfolios. For more information on Atara and her legal work pertaining to shareholder protection click here.
