LOS ANGELES, Feb. 10, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Immunovant, Inc. ("Immunovant" or "the Company") (NASDAQ: IMVT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Immunovant announced a "voluntary pause of dosing in its ongoing clinical trials for IMVT-1401" on February 2, 2021. The Company admitted that it "has become aware of a physiological signal consisting of elevated total cholesterol and LDL levels in IMVT-1401-treated patients" and "out of an abundance of caution, the Company has decided to voluntarily pause dosing in ongoing clinical studies in both TED and in Warm Autoimmune Hemolytic Anemia, in order to inform patients, investigators, and regulators as well as to modify the monitoring program." Based on this news, shares of Immunovant fell by more than 42% on the same day.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE The Schall Law Firm