Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessCOVID-19 vaccine maker Vaxart Fraud Investigation Underway

COVID-19 vaccine maker Vaxart Fraud Investigation Underway

Add to Favorite
Added to Favorite

 

Vaxart based in California has been working on a Covid-19 vaccine. The company is being sued because investors the old company is exaggerating its partnership with the US government Operation Warp Speed program for developing COVID-19 vaccines and treatments for the disease.

In a press release Vaxart (VXRT) issued, the company statement said,  “Vaxart’s Covid-19 Vaccine Selected for the US Government’s Operation Warp Speed.” after the announcement the stock jump up $17.00 per share from $3 per share. According to SEC filings that is a $200 million profit.  Armistice, which has two execs on Vaxart’s board–including its founder, Stephen Boyd–immediately sold all its warrants. “Armistice sold 27.6 million Vaxart shares, reducing its overall beneficial ownership in Vaxart from 29% to 0.2%, reaping profits of approximately $200 million,” one complaint said.

One of the lawsuits stated in the complaint  that Vaxart violated securities laws by misleading statements that it was a major player in Operation Warp Speed,

The US Department of Health and Human Services (HHS) told the New York Times that it had not entered into a funding agreement or negotiations with Vaxart. Source NYT

Federal prosecutors will be looking at different lawsuits against the company, its board members and executives.

You can view the SEC filing here –https://www.sec.gov/Archives/edgar/data/0000072444/000143774920021115/vxrt20201013_8k.htm

Vaxart based in California has been working on a Covid-19 vaccine. The company is being sued because investors the old company is exaggerating its partnership with the US government Operation Warp Speed program for developing COVID-19 vaccines and treatments for the disease.

In a press release Vaxart (VXRT) issued, the company statement said,  “Vaxart’s Covid-19 Vaccine Selected for the US Government’s Operation Warp Speed.” after the announcement the stock jump up $17.00 per share from $3 per share. According to SEC filings that is a $200 million profit.  Armistice, which has two execs on Vaxart’s board–including its founder, Stephen Boyd–immediately sold all its warrants. “Armistice sold 27.6 million Vaxart shares, reducing its overall beneficial ownership in Vaxart from 29% to 0.2%, reaping profits of approximately $200 million,” one complaint said.

 

Jay Z- launches $300 Earbuds Competing with Apple Air Pods Pro

One of the lawsuits stated in the complaint  that Vaxart violated securities laws by misleading statements that it was a major player in Operation Warp Speed.

The US Department of Health and Human Services (HHS) told the New York Times that it had not entered into a funding agreement or negotiations with Vaxart. Source NYT

Federal prosecutors will be looking at different lawsuits against the company, its board members and executives.

https://www.sec.gov/Archives/edgar/data/0000072444/000143774920021115/vxrt20201013_8k.htm

Subscribe to get Latest News Updates

Latest News

You may like more
more

Ulta Beauty Boosts Full-Year Outlook, Stock Rises 9 percent

Ulta Beauty (NASDAQ:ULTA) raised its full-year 2024 outlook, capitalizing...

Samsara Surpasses Q3 Expectations but Slowing Revenue Growth Weighs on Shares

Samsara (NYSE:IOT) delivered third-quarter results that exceeded Wall Street's...

Hewlett Packard Enterprise Surpasses Q4 Expectations with Record Revenue, Shares Gain 9 percent

Hewlett Packard Enterprise (NYSE:HPE) saw its shares climb over...

GitLab Posts Strong Q3 Results, Upbeat Guidance, and Leadership Change

GitLab (NASDAQ:GTLB) delivered strong fiscal third-quarter results, issued optimistic...