GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF INVIVYD, INC. (NASDAQ: IVVD)
Grabar Law Office is investigating potential claims against the officers and directors of Invivyd, Inc. (NASADAQ: IVVD) f/k/a Adagio Therapeutics (NASDAQ: ADGI)) on behalf of shareholders.
Adagio Therapeutics, Inc. was focused on developing ADG20, an investigational monoclonal antibody treatment for COVID-19. In September 2022, Adagio announced that it was changing its corporate name to Invivyd, Inc.
A class action complaint has been filed against Invivyd. Invivyd was formed in June 2020 to develop drugs for the treatment and prevention of COVID-19 and future coronavirus outbreaks. The Company was focused on developing ADG20, an investigational monoclonal antibody treatment for COVID-19. In September 2022, Adagio Therapeutics, Inc. announced that it was changing its corporate name to Invivyd. The complaint alleges that defendants failed to disclose that: (i) the published epitope mapping, structural studies, and sequence analyses which defendants had used to claim ADG20 was effective against the Omicron variant were insufficient, unreliable, and inadequate to make claims of effectiveness of ADG20 against Omicron; (ii) defendants' claims regarding ADG20's efficacy against Omicron lacked a reasonable factual basis; and (iii) ADG20 was over 300 times less effective against the Omicron variant as compared to its effectiveness against previous variants.
Current Invivyd shareholders who have held Invivyd stock (f/k/a/ Adagio Therapeutics (NASDAQ: ADGI)) since before November 29, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you would like to learn more about this matter, you are encouraged to contact us at email@example.com, or call 267-507-6085.