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LogicBio Therapeutics, Inc. (NASDAQ: LOGC) Investor Securities Class Action Lawsuit 03/19/2020

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Lawsuit Overview

Case Dismissed
Company
LogicBio Therapeutics, Inc.
Security
NASDAQ: LOGC

Case Name
LogicBio Therapeutics Shareholder Class Action Lawsuit 03/19/2020
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 5, 2021 - The case was voluntarily dismissed.

June 2, 2020 - The case was transferred to the U.S. District Court for the District of Massachusetts.

March 18, 2020 - An investor in shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by LogicBio Therapeutics, Inc. in connection with certain allegedly false and misleading statements made between December 3, 2018 and February 10, 2020.

Cambridge, MA based LogicBio Therapeutics, Inc., a genome editing company, focuses on developing medicines to treat rare diseases in patients with unmet medical need using GeneRide technology platform.

On February 10, 2020, post-market, LogicBio Therapeutics, Inc announced that “the U.S. Food and Drug Administration (FDA) has placed a clinical hold on [LogicBio’s] Investigational New Drug (IND) submission for LB-001 for the treatment of methylmalonic acidemia (MMA) pending the resolution of certain clinical and nonclinical questions.” Shares of LogicBio Therapeutics, Inc. (NASDAQ: LOGC) declined from $11.60 per share on February 10, 2020 to as low as $3.05 per share on March 12, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of LogicBio Therapeutics, Inc. (NASDAQ: LOGC) common shares between December 3, 2018 and February 10, 2020, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between December 3, 2018 and February 10, 2020, the defendants made false and/or misleading statements and/or failed to disclose that: LogicBio's behind-schedule and rushed Investigational New Drug ( IND ) submission of LB-001 did not answer certain pertinent clinical and nonclinical questions, that as a result, the U.S. Food and Drug Administration was likely to hold or deny the IND submission of LB-001 for treatment of methylmalonic acidemia (MMA), and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.