Investor Sues Biotech Company Over Alleged COVID-19 Vaccine Misrepresentations

Mealey's (March 16, 2020, 1:58 PM EDT) -- PHILADELPHIA — A pharmaceutical company and its CEO violated federal securities laws after misrepresenting to investors that the company had developed a vaccine for the COVID-19 coronavirus when, in fact, it had developed only a precursor for a vaccine, an investor argues in a March 12 class action complaint filed in Pennsylvania federal court (Patrick McDermid v. Inovio Pharmaceuticals Inc., et al., No. 20-1402, E.D. Pa.)....