Press release
Investigation announced for Investors who lost money with Legend Biotech Corporation (NASDAQ: LEGN) concerning possible Wrongdoing
An investigation on behalf of investors in Legend Biotech Corporation (NASDAQ: LEGN) shares over potential wrongdoing.
Investors who purchased shares of Legend Biotech Corporation (NASDAQ: LEGN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Legend Biotech Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.
Somerset, NJ based Legend Biotech Corporation, a clinical-stage biopharmaceutical company, engages in the discovery and development of novel cell therapies for oncology and other indications. Legend Biotech Corporation reported that its annual Total Revenue rose from 489.79 million in 2021 to $117 million in 2022, and that its Net Loss increased from $386.2 million in 2021 to $446.34 million in 2022.
On November 28, 2023, the U.S. Food and Drug Administration ("FDA") announced that it "is investigating the identified risk of T cell malignancy with serious outcomes, including hospitalization and death, and is evaluating the need for regulatory action" after "receiving reports of T-cell malignancies, including chimeric antigen receptor CAR-positive lymphoma, in patients who received treatment with BCMA- or CD19-directed autologous CAR T cell immunotherapies." The FDA's press release listed Legend's Carvykti (ciltacabtagene autoleucel) as among the approved products in the class of products at issue.
Shares of Legend Biotech Corporation (NASDAQ: LEGN) declined from $77.32 per share in July 2023, to as low as $57.24 per share on November 28, 2023.
Those who purchased shares of Legend Biotech Corporation (NASDAQ: LEGN) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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