NEW YORK, June 22, 2023 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the securities of NovoCure Limited (“NovoCure” or the “Company”) (NASDAQ: NVCR) between January 5, 2023 and June 5, 2023, both dates inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) NovoCure concealed the true nature of the LUNAR study results given that the study failed to evaluate the efficacy of the drug against a population of patients that had been receiving standard of care treatment; (2) as a result, NovoCure’s business prospects, effectiveness of its products, and ultimately the likelihood of U.S. Food and Drug Administration approval were materially misleading; and (3) the above, once revealed, was reasonably likely to have a material negative impact on NovoCure’s financial condition.
On June 6, 2023, NovoCure announced full results from the LUNAR study and revealed that only a small subgroup of patients treated with immune checkpoint inhibitors was included in the LUNAR study. On this news, the price of NovoCure stock fell more than 43%, damaging investors.
Investors who purchased or otherwise acquired shares of NovoCure should contact the Firm prior to the August 18, 2023 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
