The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Bristol-Myers Squibb Company (NYSE: BMY) securities between January 27, 2015 and October 9, 2016.
According to the BMY lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) that Bristol-Myers' CheckMate-026 trial was more likely to fail than Defendants were representing; (2) that Bristol- Myers' CheckMate-026 trial failed more severely than the Company indicated in its August 5, 2016 announcements and disclosures; and (3) that, as a result of the foregoing, Defendants' statements about Bristol-Myers' business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. On August 5, 2016, Bristol-Myers revealed that its CheckMate-026 trial exploring the use of Opdivo (nivolumab) as monotherapy failed to meet its primary endpoint of progression-free survival. Following this news, Bristol-Myers stock fell 16% to close at $63.28 per share on August 5, 2016. Then on October 9, 2016, Bristol-Myers revealed the final primary analysis of CheckMate-026, and that the overall Opdivo survival was only 14.4 months compared to chemotherapy's 13.2 months. Following this news, Bristol-Myers stock dropped over 10%, to close at $49.81 per share on October 10, 2016.
If you suffered a loss in Bristol-Myers Squibb Company you have until April 10, 2018 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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