NEW ORLEANS, Feb. 24, 2023 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors they have until April 3, 2023 file lead plaintiff claims in a class action lawsuit against Invivyd, Inc. (the “Company”) IVVD f/k/a Adagio Therapeutics, Inc. (“Adagio”) ADGI, if they purchased the Company’s stock between 29 November, 2021 and December 14, 2021 inclusive (the “Course Term”). This action is pending in the United States District Court for the District of Massachusetts.
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Invivyd investors should visit us or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the cause
Invivyd and some of its executives are accused of failing to disclose material information during class time, in violation of federal securities laws.
On December 14, 2021, the Company (then called Adagio) disclosed that in vitro test results for ADG20, its lead product candidate against the Omicron COVID-19 variant, revealed that it was 300 times less effective at neutralizing Omicron than Omicron. how much it was against the other variants, despite having assured investors of the effectiveness against Omicron only a few weeks earlier.
Upon this news, shares of Adagio plunged nearly 80%, from $34.26 per share on December 13, 2021 to $7.26 per share as the market closed on December 14, 2021.
The case is Brill vs. Invivyd, Inc.no. 23-cv-10254.
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