Class action lawsuit charges Y-mAbs and certain of its top executive officers with violations of the Securities Exchange Act of 1934

Y-mAbs Therapeutics, Inc. (NASDAQ:Y-mAbs)

NASHVILLE, TENNESSEE, UNITED STATES, January 21, 2023 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, informs investors that a that a purchaser of Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB), who suffered losses inY-mAbs stock, filed a class action complaint against the Company for violations of the securities laws. The Y-mAbs class action lawsuit seeks to represent purchasers of Y-mAbs common stock on the open market, or pursuant to Registration Statements filed with the U.S. Securities and Exchange Commission (“SEC”), between October 6, 2020 and October 28, 2022, inclusive (the “Class Period”). Captioned Corwin v. Y-mAbs Therapeutics, Inc., No. 23-cv-00431 (S.D.N.Y.), the Y-mAbs class action lawsuit charges Y-mAbs and certain of its top executives with violations of the Securities Exchange Act of 1934.

If you suffered losses in Y-mAbs ​ and wish to serve as lead plaintiff of the Y-mAbs class action lawsuit, or just have questions as an investor, please visit us here. You can also contact Y-mAbs Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com. Lead plaintiff motions for the Y-mAbs class action lawsuit must be filed with the court no later than March 20, 2023. If you suffered losses in Y-mAbs and have questions, please contact Y-mAbs Stock Loss Lawyer Timothy L. Miles today.

Allegations in the Y-mAbs Class Action Lawsuit

Y-mAbs is a biopharmaceutical company focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer. Specifically, Y-mAbs is developing Omburtamab, which is being studied for the treatment of neuroblastoma in the central nervous system or leptomeninges of pediatric patients.

The Y-mAbs class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Y-mAbs misrepresented the U.S. Food and Drug Administration’s (“FDA”) willingness to approve Omburtamab for marketing based on the existing clinical trials; (ii) Y-mAbs misrepresented that progress was being made that would align with the FDA’s requirements to demonstrate substantial evidence of effectiveness, sufficient for approval of Omburtamab, through adequate and well-controlled studies; and (iii) the FDA had repeatedly advised Y-mAbs that it was unlikely to grant approval for the marketing of Omburtamab.

On October 26, 2022, the FDA published its briefing documents for an October 28, 2022 Advisory Committee (“AdCom”) Meeting, which identified key issues with Y-mAbs’ Omburtamab application. On this news, Y-mAbs’ stock price declined by more than 27%.
Then, on October 28, 2022, Y-mAbs revealed to investors that the AdCom had voted 16 to 0 to deny the application and that Y-mAbs had not provided sufficient evidence to conclude that Omburtamab improved overall survival. On this news, Y-mAbs’ stock price declined nearly 60%, further damaging investors.


Y-mAbs Shareholders Urged to Contact the Firm

If you purchased Y-mAbsr securities or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here for more information or contact Timothy L. Miles, Esquire, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2022 Top Ranked Lawyer and a 2022 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
109 Summit Ridge Ct.
Nashville, TN 37215
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com
Timothy Miles
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Timothy L. Miles Miles
Law Offices Of Timothy L. Miles
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Visit us on social media:
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Timothy L. Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
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