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Novavax Faces Shareholder Suit Over Covid-19 Vaccine Claims

Nov. 15, 2021, 7:22 PM

Biotechnology company Novavax Inc. allegedly misled investors about how soon its Covid-19 vaccine would be ready for emergency-use authorization from the FDA, a new lawsuit said.

The Gaithersburg, Md.-based company overstated its manufacturing capabilities and downplayed issues that led to repeated delays of its filing with the Food and Drug Administration, according to a Nov. 12 shareholder complaint in the U.S. District Court for the District of Maryland.

The company’s 2020 10-K filing claimed that it planned to file for FDA emergency-use authorization in the second quarter of this year, according to the complaint.

A series of news reports and ...

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