According to the Complaint, DBV Technologies S.A., a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its lead product candidate was Viaskin Peanut, an immunotherapy product, which completed Phase III clinical trial for the treatment of peanut allergies in children, adolescents, and adults.

The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) DBV Technologies’ Biologics License Application (“BLA”) for Viaskin Peanut failed to provide the FDA with sufficient data on manufacturing procedures and quality controls; (2) consequently, DBV Technologies voluntarily withdrew the BLA for Viaskin Peanut; and (3) as a result, Defendants’ statements about DBV Technologies’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

On October 3, 2019, the Court issued an Order appointing Lead Plaintiffs and Co-Lead Counsel. Lead Plaintiffs filed an amended Complaint on January 24, 2020. On June 12, Lead Plaintiffs filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on December 17. On July 29, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed without prejudice.

On September 30, 2021, Lead Plaintiffs filed a third amended Complaint. Defendants filed a Motion to Dismiss the third amended Complaint on December 10. On July 29, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.