BNTX INVESTOR NOTIFICATION: Kessler Topaz Meltzer & Check, LLP Announces Lead Plaintiff Deadline on March 12, 2024 in Securities Fraud Class Action Lawsuit Filed against BioNTech SE (BNTX)


Radnor, PA–(Newsfile Corp. – February 9, 2024) – The Law Office of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) advises investors that a securities class action lawsuit has been filed against BioNTech SE (“BioNTech”) (NASDAQ: BNTX). The action accuses BioNTech of violations of the federal securities laws, including fraudulent omissions and misrepresentations relating to the company's business, operations and prospects. As a result of BioNTech's materially misleading statements and omissions to the public, BioNTech's investors suffered significant losses.

CLICK HERE TO SUBMIT YOUR BIONTECH LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY-PAST INTO YOUR BROWSER: https://www.ktmc.com/new-cases/biontech-se?utm_source=PR&utm_medium=link&utm_campaign=bntx&mktm=r

CAN'T SEE THIS VIDEO? PLEASE CLICK HERE

PRINCIPAL APPLICANT DEADLINE: MARCH 12, 2024

COURSE PERIOD: FROM MARCH 30, 2022 TO OCTOBER 13, 2023

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. at (484) 270-1453 or by email at [email protected]

Kessler Topaz is one of the world's leading advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigators are consistently recognized as leaders in the field, as is the firm itself, which is continually recognized for the positive results we have achieved. We are proud to have recovered billions of dollars for our clients and the shareholder classes we represent.

In addition to representing investors in cases where fraud has been exposed, Kessler Topaz also represents whistleblowers – people who report wrongdoing to people in positions of authority or to the public – in cases brought in under federal and state qui tam laws, and in connection with financial fraud. whistleblower programs, such as those operated by the SEC, CFTC, and IRS. If you have information about fraud against government programs (such as Medicare) or violations of federal securities, commodities, taxes, or anti-foreign bribery laws, contact Kessler Topaz at (866) 369-7779 or [email protected] or go to https://www.ktmc-whistleblower.com.

ALLEGED MISCONDUCT OF DEFENDANTS
The Class Period begins on March 30, 2022, when BioNTech issued a press release during pre-market hours announcing the Company's fourth quarter and full-year 2021 financial results. On the same day, BioNTech also filed its annual report with the SEC in which the company discusses Comirnaty, its COVID-19 vaccine in collaboration with Pfizer, and the widespread adoption and use of Comirnaty in commercial markets, while simultaneously touting the prospects for continued demand for the vaccine.

On August 8, 2022, during pre-market hours, BioNTech issued a press release announcing its second quarter 2022 financial results. Among other things, BioNTech's reported earnings per share and revenue both missed consensus estimates . BioNTech attributed this result, in part, to the “dynamic” development of the pandemic, which “causes[ed] rescheduling of orders and . . . THE[d] to fluctuations in quarterly income. » According to BioNTech, “[t]The revenue fluctuation caused by order rescheduling is expected to continue for the remainder of the financial year with a recovery in demand in key markets in the fourth quarter of 2022 related to the bivalent vaccine adapted to Omicron, subject to regulatory approval. “Following this news, the price of BioNTech's American Depositary Share (“ADS”) fell by $13.81 per ADS, or 7.54%, to close at $169.30 per ADS on August 8, 2022. .

Then, on March 27, 2023, during pre-market hours, BioNTech issued a press release announcing its fourth quarter and full-year 2022 financial results. In its results, BioNTech forecasts approximately €5 billion in revenue related to COVID-19 vaccines for the financial year 2023, which is significantly lower than market estimates of more than €8 billion. Following this news, the price of BioNTech's ADS fell $4.60 per ADS, or 3.59%, to close at $123.60 per ADS on March 27, 2023.

On Friday, October 13, 2023, after hours, Pfizer issued a press release announcing, among other things, that due to lower than expected utilization of its COVID products, Pfizer was recording a non-cash charge of 5, 5 billion dollars. to cost of goods sold in the third quarter of 2023, which included inventory write-offs and other charges related to Comirnaty. Pfizer also reduced its full-year 2023 revenue forecast for Comirnaty by approximately $2.0 billion.

On Monday, October 16, 2023, during pre-market hours, BioNTech issued a press release revealing that as a result of Pfizer's stock write-offs and other Comirnaty-related charges, BioNTech is also expected to recognize up to 0 .9 billion euros. in inventory write-offs and other charges related to Comirnaty in the third quarter of 2023. The company also reported that “[a]Such write-offs will reduce the revenue the company would report for 2023.” According to BioNTech, Pfizer indicated “the majority of write-offs relate to raw materials, primarily formulation-related lipids, purchased during the pandemic, as well as as doses of COVID-19 vaccine have adapted to other non-XBB.1.5 variants produced at risk. » Following this news, the price of BioNTech's ADS fell by $6.61 per ADS, or 6.38%, to close at $96.97 per ADS on October 16, 2023.

WHAT CAN I DO?
BioNTech investors can, no later than March 12, 2024, cause the court to act as lead plaintiff of the class, Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages BioNTech investors who have suffered significant losses to contact the company directly for more information. The class action against BioNTech, Ladewig v. BioNTech, et al., Case No. 24-cv-00337 is filed in the United States District Court for the Central District of California.

CLICK HERE TO REGISTER FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is generally the investor or a small group of investors who have the greatest financial interest and who are also suitable and typical of the proposed investor class. The lead plaintiff selects an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead attorneys or class counsel. Your ability to participate in any recovery is not affected by whether you become lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP pursues class action lawsuits in state and federal courts across the country and around the world. The company has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq..
280, chemin du Roi de Prussia
Radnor, Pennsylvania 19087
(484) 270-1453
[email protected]

To view the source version of this press release, please visit



Source link

Scroll to Top