Astrazeneca PLC : American Depositary Shares Securities Litigation
On or around 09/13/2022 (Date of order of final judgment)
Filing Date: January 26, 2021
According to the Complaint, Astrazeneca PLC is a multinational biopharmaceutical company and was one of the early front-runners in the race to develop a COVID-19 vaccine. In April 2020, the Company partnered with Oxford University to develop a potential recombinant adenovirus vaccine for the virus, later dubbed AZD1222.
The Complaint alleges that Defendants misrepresented facts regarding the Company’s ongoing AZD1222 clinical trials and concealed problems that had arisen in the trials, including a dosing error which had been discovered early on by the Company but not disclosed to investors.
On April 28, 2021, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. All future docketing was ordered to be done in the lead case 21-CV-00722.
Lead Plaintiffs filed an amended Complaint on July 12, 2021. Defendants filed a Motion to Dismiss the amended Complaint on September 27.
On September 12, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The Clerk of Court was directed to enter final judgment dismissing the amended complaint with prejudice.
Lead Plaintiffs filed a notice appealing the Court's Dismissal Order on October 12, 2022. On June 6, 2023, the Court of Appeals affirmed the judgment of the District Court.
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