Invivyd, Inc. (NasdaqGM: IVVD)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Invivyd, Inc. (the “Company”) (NasdaqGM: IVVD) f/k/a Adagio Therapeutics, Inc. (“Adagio”) (NasdaqGM: ADGI).
Adagio, formed in June 2020 to develop drugs for the treatment and prevention of COVID-19, conducted its initial public offering (“IPO”) in August 2021. In September 2022, Adagio announced that it was changing its corporate name to Invivyd, Inc. and that its stock would trade under “IVVD.”
On December 14, 2021, Adagio disclosed that in vitro test results for ADG20, its lead product candidate against the COVID-19 Omicron variant, revealed that it was 300 times less effective at neutralizing Omicron than it was against the other variants, despite assuring investors of the efficacy against Omicron only a few weeks prior.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains pending.
KSF’s investigation is focusing on whether Invivyd’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. If you have information that would assist KSF in its investigation, or have been a long-term holder of Invivyd shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.