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LOS ANGELES, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Fate Therapeutics, Inc (“Fate” or “the Company”) (NASDAQ: FATE) investors that a lawsuit filed on behalf of investors that purchased Fate securities (NASDAQ: FATE) between April 2, 2020 through January 5, 2023 (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
A press release from Fate announced on January 5, 2023 that the company terminated a collaboration agreement with Janssen Biotech, which was expected to bring in $3 billion in milestone payments and royalties. The lawsuit claims that before this announcement, Fate made false and misleading statements about the sustainability of the collaboration agreement and failed to disclose that certain clinical programs, milestone payments, and royalty payments associated with the agreement could not be relied upon as future revenue sources. As a result, the price of Fate shares dropped significantly when this information was made public.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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