NEW YORK, April 27, 2024 – The respected global investor rights law firm, Rosen Law Firm, is diligently continuing its investigation into potential securities claims on behalf of shareholders of bluebird bio Inc. (NASDAQ: BLUE). This action comes in light of allegations suggesting that bluebird bio may have provided the investing public with materially misleading business information.
For those who have invested in bluebird securities, there may be a path to compensation without the need to pay any out-of-pocket fees or costs, thanks to a contingency fee arrangement. The Rosen Law Firm is actively preparing a class action lawsuit aimed at recovering the losses suffered by investors.
In a significant development dated March 26, 2024, bluebird bio disclosed through a Form 8-K filing with the SEC a critical audit finding. According to the filing, “[o]n March 24, 2024, the Audit Committee of the Board of Directors (the “Audit Committee”) of the company, guided by the management’s recommendation and following consultations with EY, reached a conclusion that the Company’s audited consolidated financial statements for each fiscal year starting from January 1, 2019, along with its unaudited interim condensed consolidated financial statements for the first three quarters of such years and related earnings releases and investor presentations, were found to be materially misstated and hence, should no longer be relied upon.”
The revelation had an immediate impact on the market as bluebird’s stock price plunged by $0.16 per share or diminished by 11.8%, closing at $1.20 per share on March 26, 2024. This unexpected news has raised concerns among investors about the integrity of the company’s financial statements and has sparked discussion about the potential ramifications for bluebird and its shareholders.
The Rosen Law Firm, a leader in representing global investors, emphasizes the importance of choosing qualified counsel with a proven track record of success and leadership in similar legal battles. Investors are urged to select counsel wisely, as not all firms issuing such notices possess comparable experience, resources, or recognition. Specializing in securities class actions and shareholder derivative litigation, Rosen Law Firm stands out for its dedication to securing significant recoveries for investors worldwide. Notably, the firm has achieved the largest ever securities class action settlement against a Chinese Company and has consistently been ranked at the top for its performance and recoveries in investor claims.
In a commitment to keeping the investor community informed, Rosen Law Firm encourages following updates on their legal proceedings and other investor-related news on their professional platforms.
This announcement serves as attorney advertising, with the understanding that prior results do not guarantee a similar outcome in future cases. The Rosen Law Firm remains steadfast in its commitment to recover losses for investors affected by securities fraud and misrepresentation.
