COVID-19 Vaccine Company Accused of Misrepresenting Its Role in Operation Warp Speed

October 20, 2020

One of the companies working on a coronavirus vaccine, Vaxart, not only was served with a subpoena in July for allegedly misrepresenting its role with the government in Operation Warp Speed, but is now being sued by investors for it.

The problems stem from a June press release in which Vaxart said it was part of Operation Warp Speed. The announcement propelled its stock prices from $3 a share to $17, earning hedge fund Armistice Capital more than $200 million when the agency sold its shares.

Since then Vaxart has been involved in a series of back-and-forth court filings; its stock price as of October 16, 2020, was down to $6 a share.

+ Sources and References

CNN Business October 18, 2020

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