NEW YORK, Feb. 21, 2018 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Bristol-Myers Squibb Company (“Bristol-Myers” or the “Company”) (NYSE:BMY) and certain of its officers, on behalf of shareholders who purchased Bristol-Myers securities during the period between January 27, 2015 and October 9, 2016, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/bmy.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and 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 it did in the Company’s 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 for not meeting its primary endpoint of progression-free survival. Following this news, Bristol-Myers stock dropped $12.04 per share, or 16%, to close at $63.28 per share on August 5, 2016. The stock price continued to drop and closed at $60.30 per share on August 8, 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 $5.62 per share, or over 10%, to close at $49.81 per share on October 10, 2016.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/bmy or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Bristol-Myers 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]