NEW YORK, NY / ACCESSWIRE / December 2, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Legend Biotech Corporation ("Legend" or the "Company") (NASDAQ:LEGN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Legend and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On November 28, 2023, the U.S. Food and Drug Administration ("FDA") announced that it "is investigating the identified risk of T cell malignancy with serious outcomes, including hospitalization and death, and is evaluating the need for regulatory action" after "receiving reports of T-cell malignancies, including chimeric antigen receptor CAR-positive lymphoma, in patients who received treatment with BCMA- or CD19-directed autologous CAR T cell immunotherapies." The FDA's press release listed Legend's Carvykti (ciltacabtagene autoleucel) as among the approved products in the class of products at issue.

On this news, Legend's stock price fell $1.57 per share, or 2.61%, to close at $59.99 per share on November 28, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

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SOURCE: Pomerantz LLP