bluebird bio, Inc. Securities Litigation (2021)

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Lawsuit Overview

Defendant:bluebird bio Inc. Common Stock
Date Filed:February 12th, 2021
Sector:Health Care
Industry:Biotechnology: Biological Products (No Diagnostic Substances)
Class Start Date:May 11th, 2020
Class End Date:November 4th, 2020

According to the Complaint, bluebird bio, Inc. is a biotechnology company that engages in researching, developing, and commercializing transformative gene therapies for severe genetic diseases and cancer. The Company's gene therapy programs include, among others, LentiGlobin (bb1111) for the treatment of SCD. In May 2020, in the midst of the COVID-19 pandemic, bluebird announced that the Company expected to submit a BLA to the FDA for LentiGlobin for SCD in the second half of 2021.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) data supporting bluebird's BLA submission for LentiGlobin for SCD was insufficient to demonstrate drug product comparability; (ii) Defendants downplayed the foreseeable impact of disruptions related to the COVID-19 pandemic on the Company's BLA submission schedule for LentiGlobin for SCD, particularly with respect to manufacturing; (iii) as a result of all the foregoing, it was foreseeable that the Company would not submit the BLA for LentiGlobin for SCD in the second half of 2021; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Peter Leung, et al. v. bluebird bio, Inc., et al.

Date Filed:February 12th, 2021
Class Period Start:May 11th, 2020
Class Period End:November 4th, 2020
First Identified Complaint Filings
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