Full Press Release Details
SAN FRANCISCO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Humacyte insiders recently offloaded a significant portion of company stock, raising eyebrows amidst a brewing legal storm. According to recent SEC filings, Ayabudge LLC, an entity controlled by Board member Brady W. Dougan, who is married to CEO and President Laura Niklason, disposed of 1.5 million shares over three days in November, netting approximately $6.6 million.
The sales, which were treated as indirectly benefiting Dr. Niklason, came as Humacyte navigates a turbulent period. The company, which develops tissue-engineered blood vessels, reported a dismal third quarter with zero revenue and a substantial net loss. The disappointing quarterly results followed closely on the heels of a class-action lawsuit filed by investors who allege the company misled them about the status of its key product and the regulatory compliance of its manufacturing facilities.
Hagens Berman is investigating the allegations and urges investors in Humacyte (NASDAQ: HUMA) who suffered substantial losses to submit your losses now.
Class Period: May 10, 2024 – Oct. 17, 2024
Lead Plaintiff Deadline: Jan. 17, 2025
Contact the Firm Now: HUMA@hbsslaw.com
Humacyte, Inc. (HUMA) Securities Class Action:
The lawsuit centers around alleged deficiencies at Humacyte’s Durham, North Carolina facility, including issues with quality assurance and microbial testing. These concerns were brought to light following an FDA inspection and the subsequent delay in the review of the company's Biologic License Application (BLA) for its flagship product.
The FDA inspection resulted in a Form 483, a document detailing significant violations at the facility. This news led to an immediate sharp decline in Humacyte's stock price, injuring investors.
"Investors appear to have been harmed by Humacyte's alleged failure to disclose critical information about its business and operations," said Reed Kathrein, a partner at Hagens Berman, a law firm investigating the matter. "If the allegations are true, we believe that the company's conduct constitutes a serious violation of securities laws."
If you invested in Humacyte or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Humacyte case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Humacyte should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email HUMA@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895