Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
BNTX.US
id: 1032

BioNTech (BNTX) COVID-19 Vaccine Demand Case

C.D. California
Court
2:24-cv-00337
Case number
30 Mar 2022
Class period Start
13 Oct 2023
Class period End
12 Mar 2024
Lead Plaintiff motion deadline
  • $BNTX stockholder filed a claim vs. BioNTech for overstating demand and prospects for their COVID-19 vaccine and having excess inventory.
  • The BioNTech disappointing financial results caused $BNTX 7% fall, and $3.28B shareholder value loss.
On August 8, 2022, BioNTech announced lower earnings and revenue than expected. This resulted in a more than 7% $BNTX drop.
  • The earnings-per-share were €6.45, missing estimates by €0.63, and revenue was €3.2B, missing estimates by €910M.
Then, on March 27, 2023, BioNTech shared financial results for 2022, predicting about €5B from COVID-19 vaccines in 2023 — much less than the expected €8B. This caused $BNTX to fall by almost 4%.

After that, BioNTech announced potential charges of up to €0.9B due to issues with Pfizer's Comirnaty. The news also led to a more than 6% drop in $BNTX.

Based on these events, $BNTX stockholder filed a claim against BioNTech and its leaders:
  • BioNTech supposedly said that its Comirnaty had more demand and better commercial prospects than it actually did.
  • BioNTech and Pfizer allegedly had extra materials and COVID-19 doses for other variants, risking significant financial losses for BioNTech.
Considering all the representations, investors have reasons to suspect that BioNTech misled them by overstating prospects for Comirnaty and that with excess inventory, BioNTech faced a risk of financial losses.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 August 2022
Filing date
12 January 2024
Lead Plaintiff Deadline
12 March 2024
Collecting participants…

BioNTech SE

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. The company is developing FixVac product candidates, including BNT111, wh...

    Ticker
    BNTX.US
    ISIN
    US09075V1026
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    An der Goldgrube 12, Mainz, Germany, 55131