Vaxart Investors With Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.
PHILADELPHIA, July 27, 2020 /PRNewswire/ -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Vaxart, Inc. ("Vaxart" or the "Company") (NASDAQ: VXRT) to determine whether the Company engaged in securities fraud or other unlawful business practices.
On June 26, 2020, Vaxart announced that ". . . its oral COVID-19 vaccine has been selected to participate in a non-human primate (NHP) challenge study, organized and funded by Operation Warp Speed, a new national program aiming to provide substantial quantities of safe, effective vaccine for Americans by January 2021," as well as that Vaxart is ". . . one of the few companies selected by Operation Warp Speed, and that ours is the only oral vaccine being evaluated."
On July 25, 2020, a New York Times article, "Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine," described how Vaxart's "[c]ompany insiders, who weeks earlier had received stock options worth a few million dollars, saw the value of those awards increase sixfold. And a hedge fund that partly controlled the company walked away with more than $200 million in instant profits."
According to The New York Times, "[s]ome officials at the Department of Health and Human Services have grown concerned about whether companies including Vaxart are trying to inflate their stock prices by exaggerating their roles in Warp Speed, a senior Trump administration official said. The department has relayed those concerns to the Securities and Exchange Commission, said the official, who spoke on the condition of anonymity."
On this news, Vaxart's share price dropped significantly on July 27, 2020, closing at $11.16 per share.
Vaxart investors who purchased, or otherwise acquired, the Company's common stock and suffered losses greater than $50,000 are encouraged to complete Kehoe Law Firm's Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], to discuss the securities investigation or potential legal claims.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
This press release may constitute attorney advertising.
SOURCE Kehoe Law Firm, P.C.
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