A Novavax Inc. investor filed suit in Delaware, claiming some of its senior leaders made insider stock sales worth tens of millions at prices inflated by their scheme to mislead the public about the timeline for the company’s Covid-19 vaccine, which was approved for emergency use in July.
The lawsuit targets current and former members of Novavax’s board and management. It accuses them of propping up the company’s stock with rosy projections about the vaccine’s chances of being approved before the market was saturated with other shots like those made by Pfizer and Moderna.
Even as the company repeatedly reported ...
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