Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is reminding investors that the deadline to move for lead plaintiff in a securities class action lawsuit against NovoCure Limited (NASDAQ: NVCR) (“NovoCure” or the “Company”) and certain other defendants (collectively, “Defendants”) is August 18, 2023.
The action, which was filed in the U.S. District Court for the Southern District of New York asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of a Class consisting of all persons who purchased or otherwise acquired NovoCure common stock between January 5, 2023 and June 5, 2023, inclusive (the “Class Period”), and who were damaged thereby (the “Class”).
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose, among other things, material information about the true nature of NovoCure’s LUNAR study data, including that the study relied on a relatively small percentage of participants that had been receiving standard or care therapy, and as a consequence, that the data was materially less reliable in terms of demonstrating clinical efficacy.
On June 6, 2023, NovoCure issued a press release announcing "positive results" from the Phase 3 LUNAR clinical trial evaluating the use of its Tumor Treating Fields ("TTFields") therapy together with standard therapies for the treatment of non-small cell lung cancer. Immediately thereafter, analysts expressed concern about the test population and the commercial prospects of the device, and NovoCure's stock fell from $82.51 per share to $47 per share, representing a one-day decline of over 43%.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is August 18, 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 – CLICK HERE
If you purchased NovoCure common stock during the Class Period, and suffered damages, realized or unrealized, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312, or email@example.com, for more information.
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.