Tesaro, Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased Tesaro, Inc. (NASDAQGS: TSRO) securities between November 4, 2016 and November 14, 2016.
According to the Tesaro lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) notwithstanding the completion of the July Public Offering, Tesaro’s liquidity position was insufficient to meet its cash flow requirements and fund its existing operations; (ii) accordingly, unbeknownst to investors, an additional public offering of Tesaro common stock was imminent; and (iii) as a result, Tesaro’s public statements were materially false and misleading at all relevant times. On July 7, 2016, Tesaro announced the closing of a previously-announced underwritten public offering. Then on November 14, 2016, Tesaro announced another proposed public offering. Following this news, on November 15, 2016, Tesaro stock fell more than 11 percent to close at $131.04 per share.
If you suffered a loss in Tesaro you have until January 8, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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