Despite some recent good news for patients in the U.S., the Ebola crisis only promises to get worse. And who better to turn a crisis into an opportunity than investors—and the securities class action plaintiffs bar? (Ok, maybe politicians too.)
Since Friday, at least five shareholder plaintiffs firms have taken aim at iBio Inc., a small Delaware-based biotech company that claims to be “a leader in the plant-made pharmaceutical field.” IBio enjoyed a huge Ebola-driven spike in its stock price this month, amid reports connecting the company to efforts by the U.S. government and drugmakers to ramp up production of an experimental Ebola treatment called ZMapp. IBio’s shares then took a terrific tumble last week, after the website Seeking Alpha debunked the notion that the company stands to profit from ZMapp.
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