A securities class action lawsuit has been filed in the USDC — NJ on behalf of purchasers of the securities of BioLineRx Ltd. (NASDAQ: BLRX) between February 23, 2021 and September 19, 2022, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for BioLine investors under the federal securities laws.
If you purchased BioLineRx securities during the Class Period and would like to join the action, please click “Submit Your Information” above.
The Complaint alleges that the Defendants made false and/or misleading statements because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations, and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose, among other things, that:
- the Company was not well financed to develop Motixafortide while at the same time advancing other pipeline programs;
- BioLine would require a loan from Kreos Capital VII Aggregator SCSP in an aggregate principal amount of up to $40 million and then also would require a $15M securities offering to facilitate the commercial launch of Motixafortide; and
- as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On the Company’s press release on September 19, 2022, the price of BioLine’s stock fell 33% to close at $1.02 per share on September 19, 2022, damaging investors.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.