Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Frequency Therapeutics, Inc. (FREQ)
BENSALEM, Pa .– (BUSINESS WIRE) – Howard G. Smith’s law firm is reminding investors of the upcoming August 2, 2021 deadline to file a lead plaintiff in the case filed on behalf of investors called Frequency Therapeutics, Inc. (“Frequency” or ” the Company ”)) (NASDAQ: FREQ) common stock between November 16, 2020 and March 22, 2021, inclusive (the“ Class Period ”).
Investors who experience losses on their Frequency investments are advised to contact the Howard G. Smith law firms at 888-638-4847 or email firstname.lastname@example.org to determine their legal rights in this class action lawsuit to discuss.
Frequency Therapeutics has conducted several clinical studies evaluating the safety and effectiveness of FX-322, the most significant of which was a Phase 2a study that began in October 2019.
In April 2020, Frequency’s Chief Executive Officer (“CEO”) David L. Lucchino began the sale of his shares in Frequency, which grossed over 350,000 shares and grossed over $ 10.5 million.
On March 23, 2021, before the market opened, Frequency announced disappointing interim results of the Phase 2a study in a press release, which showed that subjects with mild to moderate SNHL showed no improvement in hearing scores compared to placebo.
On the news, Frequency’s shares fell $ 28.30, or 78%, to close at $ 7.99 per share, hurting investors.
The lawsuit filed alleges that during the class action period, defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. Specifically, Defendants have failed to disclose: (1) that Frequency’s Phase 2a study did not produce positive results to support the commercialization of FX-322; and (2) as a result, Defendants’ statements about their business, operations and prospects were materially false and misleading and / or were in unfeasible basis at all relevant times.
If you purchased or otherwise acquired Frequency common stock during the Class Action Period, you have no later than August 2, 2021 to ask the court to appoint you as a lead plaintiff if you meet certain legal requirements. To become a member of the class action, you do not need to take any action at this point; You can hire a lawyer of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action lawsuit, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Howard G. Smith, Esquire, Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll free at (888) 638-4847, or by email at email@example.com, or visit our website at www.howardsmithlaw .com.
This press release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.