Robbins LLP: Juno Therapeutics, Inc. (JUNO) Misled Shareholders According to a Recently Filed Shareholder Derivative Lawsuit
Robbins LLP announces that a shareholder derivative complaint was filed on behalf of Juno Therapeutics, Inc. (NasdaqGS: JUNO). The complaint is brought against certain current and former officers and directors for alleged breaches of fiduciary duties and unjust enrichment from June 2016 through the present. Juno, a biopharmaceutical company, develops cell-based cancer immunotherapies. Its lead product candidate is known as JCAR015, which focuses on the use of chimeric antigen receptor cells (“Car-T”) to treat a type of blood cancer called Acute Lymphoblastic Leukemia.
Juno Therapeutics Accused of Lying About Deadly Side Effects of Its Drug
According to the complaint, Juno officials repeatedly touted positive results from an incomplete preliminary Phase I trial of JCAR015 while failing to disclose that patients were dying from the drug’s toxic side effects in the company’s Phase II/ROCKET trial. In order to be the first to market a U.S. Food and Drug Administration approved Car-T therapy and to thwart competition, Juno officials repeatedly withheld information and misrepresented the safety and efficacy of JCAR015, including that the drug led to severe neurotoxicity that resulted in death. On November 23, 2016, Juno officials finally announced that the company was placing the Phase II/ROCKET trial on hold because of two patient deaths, leading to a total of five patient deaths treated with JCAR015. In March 2017, Juno revealed that it was ceasing development of JCAR015 citing the “toxicity” of the therapy.
Juno Therapeutics Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, or you can complete the form below and we will contact you directly.