SAN FRANCISCO (Legal Newsline) – A shareholder has filed a lawsuit against a Berkeley, California, company over allegations it made wrongful omissions to inflate its share prices.
David Soontjens filed a complaint on behalf of all others similarly situated on Nov. 18 in the U.S. District Court for the Northern District of California against Dynavax Technologies Corp., Eddie Gray and Michael S. Ostrach alleging violation of federal securities laws.
According to the complaint, the plaintiff alleges that he suffered damages from purchasing Dynavax shares at artificially inflated prices from March 2014 to November 2016. The plaintiff holds Dynavax Technologies Corp., Gray and Ostrach responsible because the defendants allegedly made false and misleading statements in order to artificially inflate share prices.
The plaintiff requests a trial by jury and seeks damages, interest, court costs and any further relief the court grants. He is represented by Jennifer Pafiti of Pomerantz LLP in Beverly Hills, California; by representatives of the same law firm in New York and Chicago; and by Bronstein, Gewirtz and Grossman LLC in New York.
U.S. District Court for the Northern District of California Case number 3:16-cv-06690-HSG