Ann: Class Action Resolution, page-49

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Bazsa

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22/08/24

10:12

Post #: 75320149
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Originally posted by whytee: ↑

Here's the list of what they paid to settle, a pattern of behaviour from the company that I and other critics have unsuccessfully tried to highlight for investors over years. I guess greed trumps all. Anyway

Allegations
The consolidated class action alleges that Mesoblast breached its continuous disclosure obligations and engaged in misleading and deceptive conduct by:
misrepresenting the efficacy and potential benefit of treating patients suffering from SR-aGVHD or COVID-19 ARDS with R-L;
misrepresenting the significance of trial results, including the relevance of earlier studies, post hoc analysis and data collated for controls and contrast;
not disclosing to the market material information, including the deficiencies in the study design and statistics presented; and
not disclosing all information required for investors to be able to reasonably assess the likelihood of whether R-L would be shown to be effective in treating SR-aGVHD or COVID-19 ARDS, and then be commercialised on that basis.
The consolidated class action alleges that the price of Mesoblast Securities was artificially inflated during the Claim Period by the above conduct and that investors suffered loss and damage by reason of the acquisition of Mesoblast Securities at those inflated prices.

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Ann: Class Action Resolution, page-49

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