Boston, Massachusetts--(Newsfile Corp. - October 23, 2021) - The Thornton Law Firm alerts investors that a class action lawsuit has been filed against Bristol-Myers Squibb Company alleging violations of the Federal Securities Laws. The case is currently in the lead plaintiff stage. All former Celgene Corporation (NASDAQ: CELG) shareholders that received Contingent Value Rights ("CVRs") in exchange for their Celgene shares pursuant to Bristol Myers's $74 billion acquisition of Celgene on November 20, 2019, and were damaged thereby, may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/Bristol-Myers for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.
FOR MORE INFORMATION: www.tenlaw.com/cases/Bristol-Myers
The action arises from Bristol Myers's alleged subversion of the FDA approval process for the purpose of avoiding a $6.4 billion payment to CVR holders. By Bristol Myers's own design, the CVR payout required approval of three blockbuster therapies, including the cancer therapy Liso-cel, by specified dates ("Milestones"). It is alleged that from the outset of the Merger, Bristol Myers knew it would not take diligent efforts to obtain FDA approval for Liso-cel by the Milestone date of December 31, 2020. The Complaint alleges that the statements in the Joint Proxy concerning the efforts Bristol Myers would make to meet the Milestones, the likelihood that the Milestones would be met and the purported value of the CVRs were materially false and misleading when made.
Interested Bristol-Myers investors have until December 6, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.
FOR MORE INFORMATION: www.tenlaw.com/cases/Bristol-Myers
Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/Bristol-Myers
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