CASES
GenVec, Inc.
Class Period: Mar 12, 2009 to Mar 30, 2010
Lead Plaintiff Deadline: Apr 3, 2012 + Deadline passed
Summary of Case:
A securities class action has been filed against GenVec, Inc ("GenVec" or the "Company") on behalf of all persons who purchased or otherwise acquired GenVec common stock between March 12, 2009 and March 30, 2010. This case has been filed in the USDC - Maryland.
The Complaint alleges that throughout the Class Period, GenVec and its most senior officers continuously touted the clinical success of TNFerade, and that it was the company's lead product candidate with strategic commercial value. However, investors began to learn on March 29, 2010 that those statements were knowingly false and misleading when GenVec announced that it was discontinuing its Phase III clinical trial of TNFerade in patients with locally advanced pancreatic cancer. On this news, the Company's stock price declined $20.10 per share -- from $28.10 per share on March 29, 2010 to close at $8.00 per share on March 30, 2010 -- a decline of more than 71.5% on unusually high volume.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.