An investigation for investors in Bristol-Myers Squibb Company (NYSE:BMY.RT) shares over potential securities laws violations by Bristol-Myers Squibb Company was announced.
San Diego, CA -- (SBWIRE) -- 06/29/2020 -- An investigation was announced concerning potential securities laws violations by Bristol-Myers Squibb Company in connection with certain financial statements.
Investors who purchased shares of Bristol-Myers Squibb Company (NYSE: BMY.RT), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Bristol-Myers Squibb Company regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On November 20, 2019, Bristol-Myers Squibb Company announced the completion of its merger with Celgene Corporation ("Celgene"). Under the terms of the merger, Celgene shareholders received for each Celgene share: 1.00 share of Bristol-Myers Squibb common stock; $50.00 in cash without interest; and one tradeable Contingent Value Right ("CVR"). BMS's press release advised investors that each CVR "will entitle the holder to receive a payment of $9.00 in cash if certain future regulatory milestones are achieved."
On November 21, 2019, the CVRs began trading on the New York Stock Exchange under the ticker symbol "BMY.RT." On May 6, 2020, Bristol-Myers Squibb Company announced, in relevant part, that "the U.S. Food and Drug Administration (FDA) has extended the action date by three months for the biologics license application (BLA) for lisocabtagene maraleucel (liso-cel), a CD19-directed chimeric antigen receptor (CAR) T cell therapy for the treatment of adults with relapsed or refractory (R/R) large B-cell lymphoma after at least two prior therapies. The new Prescription Drug User Fee Act (PDUFA) action date set by the FDA is November 16, 2020."
Then, on May 13, 2020, Bristol-Myers Squibb Company announced the receipt of "a Refusal to File letter from the U.S. Food and Drug Administration (FDA) regarding the Biologics License Application (BLA) for idecabtagene vicleucel (ide-cel; bb2121) for patients with heavily pre-treated relapsed and refractory multiple myeloma, which was submitted in March 2020."
Those who purchased shares of Bristol-Myers Squibb Company (NYSE: BMY.RT) have certain options and should contact the Shareholders Foundation.
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