The Law Offices of Frank R. Cruz announces an investigation of SIGA Technologies, Inc. (“SIGA” or the “Company”) (NASDAQ: SIGA) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On September 23, 2024, after market hours, SIGA disclosed that its Chief Medical Officer and Executive Vice President, Dr. Jay Varma, had been terminated from his position. On this news, SIGA’s stock price fell $0.42, or 5%, to close at $8.01 per share on September 24, 2024, thereby injuring investors.
Then, on September 25, 2024, a secretly recorded video surfaced online, revealing Varma detailing a media “spin” campaign to salvage TPOXX as a treatment for Monkeypox so that investors wouldn’t “dump the stock, thinking that the Company is worthless,” despite the admission that “in the United States, the risk [for Monkeypox] is very low.” On this news, SIGA’s stock price fell $1.26, or 15.7%, to close at $6.75 per share on September 25, 2024, thereby injuring investors further.
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If you purchased SIGA securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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