(NASDAQ GS: NVAX)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Novavax, Inc. ("Novavax") on behalf of stockholders. A class action complaint has been filed against Novavax, which alleges that defendants made a series of misrepresentations concerning Novavax's manufacturing capabilities and alignment with U.S. Food and Drug Administration ("FDA") criteria needed before filing its EUA for Novavax's vaccine candidate, NVX-CoV2373, with the FDA. Specifically, defendants made material misstatements and omissions including: (i) Novavax being aligned with FDA criteria while concealing multiple manufacturing problems, which included: (a) NVX-CoV2373 failing to meet certain FDA quality standards for purity and potency levels for its vaccine; (b) Novavax experienced rampant contamination outbreaks including both the Texas and North Carolina facilities; (c) Novavax was unable to successfully scale up production; and (d) all of which caused significant delays that jeopardized any chance Novavax had to capitalize on the market for Covid19 vaccines; and (ii) when Novavax ultimately had to delay its EUA filing, reassuring investors that Novavax resolved such manufacturing problems that caused the delay.