NovoCure Limited Securities Class Litigation
Securities class action litigation has been filed on behalf of investors who purchased or otherwise acquired the publicly traded securities of Novocure Limited (“NovoCure” or the “Company”) (NASDAQ: NVCR) between January 5, 2023 and June 5, 2023, inclusive (the “Class Period”).
If you purchased NovoCure securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than August 18, 2023. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
NVCR investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff complete the form below, text or email firstname.lastname@example.org, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.
Background on the NovoCure Limited Securities Class Litigation
NovoCure, headquartered in the Bailiwick of Jersey, is an oncology company with a proprietary technology called Tumor Treating Fields (“TTFields”) that exert physical forces to kill cancer cells through various mechanisms. NovoCure conducted a study, called LUNAR, that aimed to evaluate TTFields’ effectiveness in treating non-small cell lung cancer, along with standard therapies.
The action alleges that NovoCure made false and/or misleading statements and/or failed to disclose that: (1) NovoCure concealed the true nature of the LUNAR study results and that the study failed to evaluate the efficacy of the device against a population of patients that had been receiving standard of care treatment; (ii) NovoCure materially misstated its business prospects, the efficacy of its products, and the likelihood of FDA approval; (iii) after the foregoing was revealed, the Company’s financial condition would likely deteriorate.
On June 6, 2023, NovoCure presented the results of the LUNAR study at the annual meeting of the American Society of Clinical Oncology that revealed the that the data set in the study was faulty because it only included a small subgroup of patients whose treatment included immune checkpoint inhibitors—a standard treatment for non-small cell lung cancer. On this news, the price of NovoCure’s stock fell $35.51 per share, or 43.04%, to close at $47.00 on extraordinarily high trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.