NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Viasat, Inc. (NASDAQ: VSAT) and BeiGene Ltd. (NASDAQ: BGNE). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Viasat, Inc. (NASDAQ: VSAT)
Viasat provides broadband and communications products and services worldwide. Viasat’s Satellite Services segment offers satellite-based fixed broadband services.
On May 1, 2023, Viasat announced “the successful launch of ViaSat-3 Americas aboard a SpaceX Falcon Heavy,” which purportedly “open[ed] a new chapter in Viasat’s growth.”
Then, on July 12, 2023, Viasat revealed that an “event occurred during reflector deployment that may materially impact the performance of the ViaSat-3 Americas satellite.” Viasat further disclosed that “[c]ontingency plans are currently being refined” and that “[p]otential options include redeploying satellites from Viasat’s extensive fleet to optimize global coverage, and/or reallocating a subsequent ViaSat-3 class satellite to provide additional Americas bandwidth.”
Following this news, the price of Viasat stock declined by nearly 29%.
For more information on the Viasat investigation go to: https://bespc.com/cases/VSAT
BeiGene Ltd. (NASDAQ: BGNE)
On June 15, 2023, before the market opened, Morningstar released an article entitled “BeiGene shares drop after AbbVie unit files patent infringement lawsuit over cancer drug.” The article stated, in pertinent part, “AbbVie’s (ABBV) Pharmacyclics unit filed a patent-infringement lawsuit against the biotech company. BeiGene’s manufacture and sale of Brukinsa for treatment of chronic lymphocytic leukemia and small lymphocytic lymphoma infringe on Pharmacyclics’ patent for Imbruvica, which treats the same conditions, Pharmacyclics alleged in the complaint filed Tuesday in federal court in Delaware. Brukinsa in January received U.S. Food and Drug Administration approval for treatment of chronic lymphocytic leukemia and small lymphocytic lymphoma.”
On this news, the price of BeiGene American Depositary Shares (“ADS” or “ADSs”) declined by $7.08, or 3.4%, to close at $201.04. The next day, BeiGene ADS’ declined by as much as $5.3, or 2.65%, in intraday trading.
For more information on the BeiGene investigation go to: https://bespc.com/cases/BGNE
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.