BioLineRx Ltd. Class Action Lawsuit - BLRX
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The BioLineRx class action lawsuit seeks to represent purchasers or acquirers of BioLineRx Ltd. (NASDAQ: BLRX) publicly traded American Depositary Shares (“ADSs”) between February 23, 2021 and September 19, 2022, inclusive (the “Class Period”). Captioned Peete v. BioLineRx Ltd., No. 23-cv-00041 (D.N.J.), the BioLineRx class action lawsuit charges BioLineRx and its CEO with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the BioLineRx 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 firstname.lastname@example.org. Lead plaintiff motions for the BioLineRx class action lawsuit must be filed with the court no later than March 6, 2023.
CASE ALLEGATIONS: BioLineRx is a pre-commercial stage biopharmaceutical company with a focus in oncology. Specifically, BioLineRx is working on launching Motixafortide – a drug being developed for, among other things, mobilization of hematopietic stem cells.
The BioLineRx class action lawsuit alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose material that: (i) BioLineRx was not well financed to develop Motixafortide while at the same time advancing other pipeline programs; and (ii) BioLineRx would require a loan from Kreos Capital VII Aggregator SCSP (“Kreos”) in an aggregate principal amount of up to $40 million and then would also require a $15 million securities offering to facilitate the commercial launch of Motixafortide.
On September 15, 2022, BioLineRx revealed that it had entered in an Agreement for the Provision of a Loan Facility with Kreos to provide BioLineRx with a principal amount of up to $40 million “to facilitate the commercial launch of Motixafortide.”
On September 19, 2022, BioLineRx announced that it has entered into definitive agreements with several institutional investors for a $15 million securities offering and that “BioLineRx intends to use the net proceeds to facilitate the commercial launch of Motixafortide.” On this news, BioLineRx’s stock price fell more than 33%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired BioLineRx publicly traded ADSs during the Class Period to seek appointment as lead plaintiff in the BioLineRx 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 BioLineRx class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the BioLineRx class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the BioLineRx 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 nearly $2 billion for investors in 2021 – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 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.