The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Western District of Washington on behalf of shareholders of Silverback Therapeutics, Inc. who purchased (a) common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company’s initial public offering conducted on or about December 3, 2020 and/or (b) securities between December 3, 2020 and September 10, 2021, both dates inclusive.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(i) Silverback’s lead product candidate SBT6050, which is in a Phase I/Ib clinical trial, a TLR8 agonist linker-payload conjugated to a HER2-directed monoclonal antibody that targets tumors, such as breast, gastric, and non-small cell lung cancers, was less effective than the Company had represented to investors; (ii) accordingly, the Company had overstated SBT6050’s commercial and/or clinical prospects; and (iii) as a result, the Offering Documents and Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
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 January 4, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.