NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of all purchasers of securities of Gritstone bio, Inc. (NASDAQ: GRTS) between March 9, 2023 and February 29, 2024. Gritstone describes itself as a “clinical-stage biotechnology company, [which] engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases.”
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The Allegations: Rosen Law Firm is Investigating the Allegations that Gritstone bio, Inc. (NASDAQ: GRTS) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Gritstone would be unable to launch the Phase 2b CORAL Study, a study comparing Gritstone’s COVID-19 vaccine candidate with an approved COVID-19 vaccine, in the timeframe it had represented to investors; (2) the foregoing would impair Gritstone’s ability to obtain external funding in connection with the Phase 2b CORAL Study, thereby negatively affecting Gritstone’s ability to maintain its balance sheet and cash position; (3) accordingly, Gritstone overstated its ability to successfully develop and commercialize its products; and (4) as a result, Gritstone’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Gritstone bio, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 6, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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