DBV Technologies S.A. (NASDAQ: DBVT) Investor Securities Class Action Lawsuit 01/15/2019

If you purchased shares of DBV Technologies S.A. (NASDAQ: DBVT), you have certain options and for certain investors are short and strict deadlines running. Deadline: March 18, 2019. NASDAQ: DBVT investors should contact the Shareholders Foundation, Inc.

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Company Name(s): 
DBV Technologies
Case Name: 
DBV Technologies Shareholder Class Action Lawsuit 01/15/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: DBVT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/15/2019
Class Period Begin: 
02/14/2018
Class Period End: 
12/19/2018
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
03/18/2019
Summary: 

An investor in shares of DBV Technologies S.A. (NASDAQ: DBVT) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by DBV Technologies S.A. in connection with certain allegedly false and misleading statements made between February 14, 2018 and December 19, 2018.

France based DBV Technologies S.A., a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. DBV Technologies S.A. reported that its annual Total Revenue rose from 7.5 million EUR in 2016 to 9.6 million EUR in 2017 and that its Net Loss increased from 114.53 million EUR in 2016 to 147.69 million EUR in 2017.

On December 19, 2018, after the US markets closed, DBV Technologies S.A. (NASDAQ: DBVT) made known that following discussions with the U.S. Food and Drug Administration (FDA), its Biologics License Application (BLA) for Viaskin Peanut in children four to 11 years of age has been voluntarily withdrawn. The Company stated, "Although the agency did not reference any medical or clinical questions with the submission of Viaskin Peanut, the FDA did communicate that the level of detail with regards to data on manufacturing and quality controls was insufficient in the BLA."

Shares of DBV Technologies S.A. (NASDAQ: DBVT) declined from $25.77 per share in September 2018 to $3.60 per share on December 20, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of DBV Technologies S.A. (NASDAQ: DBVT) common shares between February 14, 2018 and December 19, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 14, 2018 and December 19, 2018, the defendants made false and/or misleading statements and/or failed to disclose that DBV Technologies’ Biologics License Application (“BLA”) for Viaskin Peanut failed to provide the FDA with sufficient data on manufacturing procedures and quality controls, that consequently, DBV Technologies voluntarily withdrew the BLA for Viaskin Peanut, and that as a result, defendants’ statements about DBV Technologies’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.