Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in TESARO (NASDAQ:TSRO) in connection to alleged violations of securities laws by TSRO. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in TESARO from March 14, 2016 until January 12, 2018.
The class action complaint specifically alleges that during the period in question, TESARO might have provided false and/or misleading material information, and/or failed to disclose adverse material information, chiefly: that Varubi, an injectable pharmaceutical product for the prevention of delayed nausea and vomit caused by chemotherapy, was connected to significant health risks, including anaphylaxis; and that consequently, the company’s shares traded during the class period at a price that was the result of artificial inflation. The complaint alleges that when true facts emerged, after the company’s announcement on January 12, 2018 that it had updated Varubi’s US labeling to account for these effects, investors suffered losses.
According to the company’s website, TESARO is a biopharmaceutical company that provides “transformative therapies to people bravely facing cancer.” It was founded in 2010 and made its initial public offering in 2012. The company is headquartered in Waltham, Massachusetts with European headquarters in Switzerland and offices in France, German, Italy, Spain and other European countries. It trades on the Nasdaq exchange under the symbol TSRO.