Case Summary

BioNTech SE

NASDAQ: BNTX

Case Details

  • Ladewig v. BioNTech SE et al.
  • Class Period:March 30, 2022 - October 13, 2023
  • Date Filed:January 12, 2024
  • Jurisdiction:U.S. District Court, Central District of California
  • Docket Number: 2:24-cv-00337
  • Lead Plaintiff Deadline: March 12, 2024
Days Left to
Seek Plaintiff
20

Overview

A class action lawsuit has been filed against BioNTech SE (“BioNTech” or the “Company”) (NASDAQ: BNTX) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934. The lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired BioNTech securities between March 30, 2022, and October 13, 2023, both dates inclusive (the “Class Period”) and investors have until March 12, 2024, to seek appointment as lead plaintiff of the BioNTech class action lawsuit.

BioNTech is a biotechnology company that develops and commercializes immunotherapies for cancer and other infectious diseases. The Company has developed and continues to develop, among other products and product candidates, Comirnaty, a COVID-19 vaccine, in collaboration with Pfizer Inc. (“Pfizer”). As part of BioNTech’s collaboration agreement with Pfizer, the two companies share gross profits from COVID-19 vaccine sales in their respective territories. In addition, Pfizer’s inventory write-offs for COVID-19 products reduce BioNTech’s gross profit share, thereby reducing BioNTech’s vaccine revenues.

The lawsuit alleges that during the Class Period, as the number of COVID-19 cases began to decline, one variant of the virus, namely, the Omicron XBB.1.5 subvariant, increasingly began to account for the majority of reported cases. Despite not yet having a version of Comirnaty approved by the U.S. Food and Drug Administration to treat this subvariant, BioNTech represented to the market and investors during the Class Period that Comirnaty remained relevant and in-demand.

The lawsuit also 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.

As alleged in the lawsuit, throughout the Class Period, Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.

*            *            *

If you purchased or otherwise acquired BioNTech (NASDAQ: BNTX) securities between March 30, 2022, and October 13, 2023, both dates inclusive, both dates inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the BioNTech lawsuit is March 12, 2024.

Join This Action

Name(Required)
Address(Required)
Are you a current or former employee at the company?(Required)

Purchases

Purchases Buy Date Quantity Purchase Price per share or security Actions
       

Sales

Sale Type Sale Date Quantity Sale Price per share or security Actions
       

Upload Documents

Drop files here or
Accepted file types: xls, xlsx, doc, pdf, jpg, jpeg, Max. file size: 50 MB, Max. files: 5.