AlloVir, Inc. Class Action Lawsuit - ALVR
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The AlloVir class action lawsuit seeks to represent purchasers or acquirers of AlloVir, Inc. (NASDAQ: ALVR) securities between March 22, 2022 and December 21, 2023, inclusive (the “Class Period”). Captioned Zerbato v. AlloVir, Inc., No. 24-cv-10152 (D. Mass.), the AlloVir class action lawsuit charges AlloVir and certain of AlloVir’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the AlloVir class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at email@example.com. Lead plaintiff motions for the AlloVir class action lawsuit must be filed with the court no later than March 19, 2024.
CASE ALLEGATIONS: AlloVir is a clinical-stage cell therapy company that engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell therapies to prevent and treat viral-associated diseases. According to the complaint, in March 2022, AlloVir initiated global phase 3 registrational studies of its lead product posoleucel for the prevention of life-threatening viral infections from viruses in high-risk, allogeneic hematopoietic cell transplant patients (the “posoleucel Phase 3 Studies”).
The AlloVir class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) the posoleucel Phase 3 Studies were unlikely to meet their primary endpoints; (ii) as a result, it was likely that AlloVir would ultimately discontinue the posoleucel Phase 3 Studies; and (iii) accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel.
The AlloVir class action lawsuit further alleges that on December 22, 2023, AlloVir announced that it was discontinuing the posoleucel Phase 3 Studies after pre-planned analyses concluded they would not meet their primary endpoints and stated that it would explore strategic alternatives for AlloVir. On this news, the price of AlloVir stock fell more than 67%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired AlloVir securities during the Class Period to seek appointment as lead plaintiff in the AlloVir class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the AlloVir class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the AlloVir class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the AlloVir class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.