Credit: Stock Footage, Inc./Adobe Stock Drugmaker Accused of Overhyping Proposed COVID Treatment Agrees to $3M Settlement
"Plaintiffs assert that lenzilumab's prospects of success were overstated, that defendants failed to disclose material adverse nonpublic information concerning the scientific merits of repurposing lenzilumab as a COVID treatment as part of a scheme to mislead investors into purchasing shares of Humanigen stock," U.S. District Judge William J. Martini said.
September 16, 2024 at 03:13 PM
4 minute read
Class Actions
A $3 million settlement has been reached in a securities class action filed against clinical-stage drug developer Humanigen over the company's alleged overhyping of the potential that its lead product candidate, lenzilumab, would be approved as a treatment for COVID-19.
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