| COMPANY |
BioNTech SE |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
23-cv-00337 |
| JUDGE |
Honorable Dolly Maizie Gee |
| CLASS PERIOD |
March 30, 2022 through October 13, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired BioNTech SE (“BioNTech”) (NASDAQ: BNTX) American Depositary Shares between March 30, 2022 and October 13, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) BioNTech overstated demand for Comirnaty and/or its commercial prospects; (2) the company and/or Pfizer had accumulated excess inventory of raw materials for Comirnaty, as well as COVID-19 vaccine doses adapted to other, non-XBB.1.5 variants that were produced at risk; (3) accordingly, BioNTech was at an increased risk of recording significant inventory write-offs and other charges related to Comirnaty; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Current Status of Case:
On November 18, 2024, Defendants filed a Motion to Dismiss. The Motion is being briefed. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.