Dismissal Bid In COVID-19 Vaccine Pump-And-Dump Shareholder Lawsuit Denied

Mealey's (May 18, 2021, 1:38 PM EDT) -- SAN FRANCISCO — Without providing further detail, a federal judge in California on May 13 denied motions to dismiss filed by defendants in a securities class action lawsuit and allowed lead plaintiffs to amend their complaint, in which they allege that a clinical-stage biotechnology company, a hedge fund and others engaged in a massive stock pump-and-dump scheme in violation of federal securities laws stemming from the defendants’ alleged misrepresentations that the company’s COVID-19 oral vaccine candidate had been chosen to take part in the U.S. government’s Operation Warp Speed (OWS) program....