New York, New York--(Newsfile Corp. - March 19, 2023) - Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, reminds investors that a securities class action alleging violations of the Securities Exchange Act of 1934 (the "Exchange Act") has been filed against Y-mAbs Therapeutics, Inc. ("Y-mAbs" or the "Company") (NASDAQ: YMAB) and certain directors and officers (collectively, "Defendants"). If you purchased or otherwise acquired shares of Y-mAbs between October 6, 2020 and October 28, 2022, inclusive (the "Class Period"), you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312 for more information.
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Y-mAbs is a clinical-stage biopharmaceutical company focused on developing antibody therapeutics and medicines for the treatment of cancer patients.
According to the complaint, filed in the United States District Court for the Southern District of New York, Defendants misleadingly failed to disclose material information concerning the Federal Drug Administration ("FDA") approval process for the Company's leading product candidate, omburtamab.
On October 28, 2022, Y-mAbs' Biologics License Application ("BLA") for omburtamab was unanimously denied. According to the lawsuit, the FDA's explanation for the denial conflicted with repeated assurances and misleading statements by Y-mAbs to investors.
As the market learned the truth, the price of Y-mAbs shares declined, closing on October 31, 2022 at a price of $3.61.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is March 20, 2023. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
What You Can Do
If you purchased Y-mAbs shares during the Class Period, orif you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312, or jzimmerman@scott-scott.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.
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CONTACT:
Scott+Scott Attorneys at Law LLP
Jonathan Zimmerman
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(888) 398-9312
jzimmerman@scott-scott.com
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