NEW YORK, Nov. 21, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Dynavax Technologies Corporation ("Dynavax" or the "Company") ( DVAX) and certain of its officers, and is on behalf of shareholders who purchased or otherwise acquired Dynavax securities March 10, 2014 and November 11, 2016 both dates inclusive (the "Class Period"). Such investors are advised to join this case by visiting the firm's site: www.bgandg.com/dvax.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act"). The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose: (1) that the phase 3 HBV-23 trial for Dynavax's lead vaccine product HEPLISAV-B was not designed in accordance with the U.S. Food and Drug Administration's concerns and issues; (2) that Dynavax failed to provide sufficient information to the FDA in its Revised Biologics License Application for the drug; (3) that Dynavax's resources will not be sufficient for the Company to advance the HEPLISAV-B program on its own; and (4) consequently, Dynavax's financial statements and statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis. On November 14, 2016, Dynavax dropped over 62% on intraday trading after Dynavax announced that it had received a Complete Response Letter from the U.S. Food and Drug Administration, requesting additional information "including clarification regarding specific adverse events of special interest (AESIs), a numerical imbalance in a small number of cardiac events in a single study (HBV-23), new analyses of the integrated safety data base across different time periods, and post-marketing commitments." A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/dvax or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Dynavax you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.