NEW YORK, Sept. 13, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors ofValneva SE ("Valneva" or the "Company") (NASDAQ: VALN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Valneva and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 13, 2021, Valneva issued a press release "announc[ing] that it has received a termination notice from the UK Government ('HMG') in relation to the Supply Agreement for its COVID-19 vaccine candidate, VLA2001." The press release further advised investors that "[t]he contract provides HMG with the right to terminate" and stated that "HMG has alleged that the Company is in breach of its obligations under the Supply Agreement, but the Company strenuously denies this."
On this news, Valneva's American Depositary Receipt ("ADR") price fell $18.65 per share, or 39.85%, to close at $28.15 per share on September 13, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
