The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of Massachusetts on behalf of shareholders of Frequency Therapeutics, Inc. who purchased shares between November 16, 2020 and March 22, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
the Company’s Phase 2a trial results failed to live up to the Company’s expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322’s potential. These statements materially misled the market and artificially inflated the value of Frequency’s common stock.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 2, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.