Why Vaxart Stock Is Under Pressure Today

Vaxart (NASDAQ: VXRT), a clinical-stage vaccine developer, is poised for a tough day today. Ahead of the opening bell, the biotech's shares dropped by as much as 9.9%. 

The culprit? Vaxart's stock is sinking this morning in response to an 8-K filed with the Securities and Exchange Commission (SEC) last Wednesday. In the filing, Vaxart revealed that it is currently under investigation by the federal government and the SEC for its prior claims about being selected by Operation Warp Speed (OWS). What's more, the company also released details regarding the ongoing class action lawsuits filed by some of its shareholders over the same matter.  

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Source Fool.com