Kirby McInerney LLP Announces Investigation of Shareholder Claims Against SIGA Technologies, Inc. (SIGA)

By: Kirby McInerney LLP via Business Wire

October 03, 2024 at 16:48 PM EDT

The law firm of Kirby McInerney LLP is investigating potential claims against SIGA Technologies, Inc. (“SIGA” or the “Company”) (NASDAQ: SIGA). The investigation concerns whether SIGA and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

[Click here to learn more about the investigation]

On September 23, 2024, SIGA disclosed that its Chief Medical Officer and Executive Vice President, Dr. Jay Varma, had been terminated from his position. On this news, the price of SIGA shares declined by $0.42, or approximately 5%, from $8.43 on September 23, 2024, to close at $8.01 per share on September 24, 2024.

On September 25, 2024, a secretly recorded video surfaced online, revealing Varma detailing a media “spin” campaign to salvage the Company’s antiviral medication TPOXX as a treatment for Monkeypox so that investors would not “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, the price of SIGA shares declined by $1.26, or approximately 15.7%, from $8.01 on September 24, 2024, to close at $6.75 per share on September 25, 2024, thereby injuring investors further.

If you purchased or otherwise acquired SIGA securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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