BELLUS Health Inc.
Lead Plaintiff Deadline: 05/17/2021
SUMMARY OF CASE:
A securities class action has been filed against BELLUS Health Inc. (BLU) on behalf of all persons and entities who purchased or otherwise acquired BELLUS securities between September 5, 2019 through July 5, 2020. This case has been filed in the USDC – S.D.N.Y.
The Complaint alleges that Defendants’ scheme: (i) deceived the investing public regarding BELLUS’s business, operations, drug products, drug product development, competition, and present and future business prospects; (ii) facilitated the Company’s September 2019 public offering (“Offering”); (iii) created artificial demand for the BELLUS common shares sold in the Offering;(iv) enabled the Company to receive approximately $70million in net proceeds from the sale of BELLUS common stock in the Offering; and (v) caused Plaintiff and the Class to purchase BELLUS publicly traded common stock at artificially inflated prices.
As a result of Defendants’ materially misleading statements and omissions that obscured the true facts throughout the Class Period until they were revealed on July 6, 2020, causing a precipitous decline in the market value of BELLUS’s securities, Plaintiff and other Class members have suffered significant losses and damages.