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Novavax Hit With Derivative Lawsuit Over Covid-19 Vaccine Delay

Nov. 23, 2021, 8:17 PM

Novavax Inc. faces a new shareholder derivative suit in federal court in Maryland accusing the biotechnology company’s officers and board of directors of making misrepresentations related to the delay of a vaccine for Covid-19.

Robert Meyer sued the executives, including CEO Stanley C. Erck, alleging they made materially false and misleading statements about the company’s manufacturing capabilities and downplayed problems that would affect the approval deadline for its Covid-19 vaccine. The lawsuit, filed on Monday, comes 10 days after Novavax was hit with a similar complaint in the same court.

The complaint alleges nominal defendant Novavax “overstated its manufacturing capabilities” ...

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