NEW YORK, Feb. 12, 2018 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Bristol-Myers Squibb Company (“Bristol-Myers” or the “Company”) (NYSE: BMY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Bristol-Myers and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 5, 2016, the Company announced that its CheckMate-026 trial investigating the use of Opdivo (nivolumab) as monotherapy had failed because it did not meet its primary endpoint of progression-free survival.
On this news, Bristol-Myers’s share price fell $12.04, or 16%, to close at $63.28 on August 5, 2016. The Company’s stock price continued to fall on the next trading day, declining another $2.98, or 4.7%, to close at $60.30 on August 8, 2016.
Then, on October 9, 2016, Bristol-Myers disclosed the final primary analysis of CheckMate-026, including the finding that overall survival was only 14.4 months for Opdivo versus 13.2 months for chemotherapy.
On this news, Bristol-Myers’s share price fell $5.62, or 10.1%, to close at $49.81 on October 10, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP
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