An investigation on behalf of investors of Legend Biotech Corporation (NASDAQ: LEGN) shares over potential securities laws violations by Legend Biotech Corporation and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Legend Biotech Corporation (NASDAQ: LEGN) concerning whether a series of statements by Legend Biotech Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Somerset, NJ based Legend Biotech Corporation, a clinical-stage biopharmaceutical company, engages in the discovery and development of novel cell therapies for oncology and other indications. On September 21, 2020, Legend Biotech Corporation disclosed that the Customs Anti-Smuggling Department of China inspected Legend Biotechs location in Nanjing. According to Legend Biotech Corporation, the inspection was in connection with what Legend understands to be an investigation relating to suspected violations of import and export regulations under the laws of China.

Shares of Legend Biotech Corporation (NASDAQ: LEGN) declined from $33.74 per share on September 18, 2020 to $24.64 per share on September 21, 2020.