Full Press Release Details
MONSEY, N.Y., Jan. 05, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether Fate Therapeutics, Inc. (Nasdaq: FATE) (“FATE”) violated federal securities laws in connection with the sudden termination of its collaboration and option agreement with Janssen Biotech, Inc. (“Janssen”).
If you remain a FATE shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 5, 2023, after the markets closed, FATE announced that it had declined a proposal from Janssen for continuation of the collaboration and option agreement between the parties on revised terms and conditions and, as a result, the agreement has been terminated and all collaboration activities will be wound down in the first quarter of 2023.
Upon this news, FATE stock dropped nearly 50% in after-hours trading.
FATE had announced the agreement with Janssen in April 2020. Our investigation concerns whether FATE misled investors concerning the terms of the agreement with Janssen, and the likelihood that it would continue. For example, in an investor presentation on November 12, 2022, FATE had touted its “World Class Partnerships co-developing novel iPSC-derived CAR NK and CAR T-cell product candidates with Ono and Janssen for hematologic malignancies and solid tumors.”
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
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