Lead Plaintiff Deadline: 03/29/2021
SUMMARY OF CASE:
A securities class action has been filed against AstraZeneca plc (AZN) on behalf of all purchasers of AstraZeneca American Depositary Shares (“ADSs”) between May 21, 2020 through November 20, 2020. This case has been filed in the USDC – S.D.N.Y.
The Complaint alleges that During the Class Period, as detailed herein, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of AstraZeneca ADSs and operated as a fraud or deceit on purchasers of AstraZeneca ADSs. As detailed above, when the truth about AstraZeneca’s misconduct was revealed over time, the value of the Company’s ADSsdeclined precipitously as the prior artificial inflation no longer propped up the price of the ADSs.
The declines in the price of AstraZeneca ADSs were the direct result of the nature and extent of defendants’ fraud finally being revealed to investors and the market. The timing and magnitude of the share price declines negate any inference that the losses suffered by plaintiff and other members of the Class were caused by changed market conditions, macroeconomic or industry factors orCompany specific facts unrelated to the defendants’ fraudulent conduct. The economic loss, i.e.,damages, suffered by plaintiff and other Class members, was a direct result of defendants’ fraudulent scheme to artificially inflate the price of the Company’s ADSs and the subsequent significant decline in the value of the Company’s ADSs when defendants’ prior misrepresentations and other fraudulent
conduct were revealed.