NEW YORK, Feb. 10, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/y-mabs-therapeutics-inc-loss-submission-form/?id=36409&from=4
This lawsuit is on behalf of persons or entities who purchased shares of Y-mAbs Therapeutics, Inc. common stock on the open market or pursuant to registration statements filed with the U.S. Securities and Exchange Commission during the period October 6, 2020 through October 28, 2022, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until March 20, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Y-mAbs Therapeutics, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Y-mAbs misrepresented the U.S. Food and Drug Administration's ("FDA") willingness to approve omburtamab, the Company's lead product candidate, for marketing based on the existing clinical trials; (ii) the Company misrepresented that progress was being made that would align with the FDA's requirements to demonstrate substantial evidence of effectiveness, sufficient for approval of omburtamab, through adequate and well-controlled studies; (iii) the FDA had repeatedly advised Y-mAbs that it was unlikely to grant approval for the marketing of omburtamab; and (iv) Y-mAbs had elected to submit the March 31, 2022 Biologics License Application prior to reaching agreement with the FDA on the content of the application.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
T: (212) 867-4490
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SOURCE Jakubowitz Law
