Tesaro, Inc. investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Tesaro is an oncology-focused biopharmaceutical company that identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. At all relevant times, Tesaro’s product portfolio has included Varubi (rolapitant), a neurokinin-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.
The Class Period commences on March 14, 2016, when Tesaro issued a press release entitled “Tesaro Submits New Drug Application for Intravenous Rolapitant to the U.S. Food and Drug Administration.”
The complaint alleges that on January 12, 2018, post-market, Tesaro announced that it had updated the U.S. labeling for the intravenous formulation of Varubi after receiving reports of “[a]naphylaxis, anaphylactic shock and other serious hypersensitivity reactions . . . in the post-marketing setting, some requiring hospitalization.” The company further stated that it “has issued a Dear Healthcare Professional (DHCP) letter.”
Following this news, Tesaro’s share price fell $4.07 or 5.85%, to close at $65.52 on January 16, 2018.
The complaint alleges that during the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) substantial undisclosed health risks, including anaphylaxis and anaphylactic shock, were associated with Tesaro’s intravenous formulation of Varubi; and (ii) as a result of the foregoing, Tesaro’s shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
If you are a member of the class described above, you may no later than March 19, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. 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 toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
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