January 18, 2023. The Parties agreed to and the Court approved a $44 million settlement in a class action lawsuit filed against Inovio Pharmaceuticals. Plaintiffs alleged that the Company made misleading statements about its ability to quickly produce an effective Covid-19 vaccine. According to Plaintiffs, the misrepresentation inflated the Company’s stock price and caused investor losses when the contrary truth emerged. Professor Steven Feinstein of Babson College and Crowninshield Financial Research, Inc. conducted research and provided expert testimony establishing that Inovio stock traded in an efficient market and that damages could be computed for all class members using a common damages methodology.
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