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Why Novavax Plummeted by Over 6% Today

TheMotleyFool

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Novavax (NASDAQ: NVAX), one of the more up-and-down coronavirus stocks, headed south at the end of the week. On Friday, the company's shares fell by more than 6%, a shift that came after several reminders of pending legal actions against it.

There was no significant news about Novavax's high-profile NVX-CoV2373 coronavirus vaccine, at least on the developmental or regulatory front. Rather, between Thursday night and Friday morning a pair of law firms issued reminders that their class action lawsuits against the company were moving forward. Both reiterated their Jan. 11 submission deadlines for those applying to be part of the respective classes.

Image source: Getty Images.

Source Fool.com

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