The PennZone

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Fate Therapeutics, Inc. ("Fate" or the "Company") (NASDAQ: FATE) securities between April 2, 2020 and January 5, 2023, inclusive (the "Class Period"). Fate investors have until March 22, 2023 to file a lead plaintiff motion.

Investors suffering losses on their Fate investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On January 5, 2023, after the market closed, Fate announced that it had terminated its collaboration and option agreement for cell-based cancer immunotherapies with Johnson & Johnson's Janssen, and that all collaboration activities would be wound down in the first quarter of 2023.

More on The PennZone

• Harry Hayman Celebrates Years of WHYY Coverage, Partnership & Shared Commitment to Philadelphia
• Documentary "Prescription for Violence: Psychiatry's Deadly Side Effects" Premieres, Exposes Link Between Psychiatric Drugs and Acts of Mass Violence
• Stockwell Elastomerics expands micro molding capabilities
• Price Improvement on Luxurious Lāna'i Townhome with Stunning Ocean Views
• Nextvisit Co-Founder Ryan Yannelli Identifies Six Critical Factors for Behavioral Health Providers Evaluating AI Scribes in 2026

On this news, Fate's stock price fell $6.76, or 61.5%, to close at $4.24 per share on January 6, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Janssen Collaboration Agreement was less sustainable than Fate had represented to investors; (2) accordingly, certain the clinical programs, milestone payments, and royalty payments associated with the Janssen Collaboration Agreement could not be relied upon as future revenue sources; (3) as a result, Fate had overstated the impact of the Janssen Collaboration Agreement's on Fate's long-term clinical and commercial profitability; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased Fate securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

More on The PennZone

• CredHub and Real Property Management Join Forces to Empower Franchise Owners with Rental Payment Credit Reporting Solutions
• Leimert Park Announces Weeklong Kwanzaa Festival & Kwanzaa Parade Celebrating Black History, Culture, and Community
• Schmuck Lumber Ace Hardware Opens New Greenhouse Addition
• Renowned Alternative Medicine Specialist Dr. Sebi and His African Bio Mineral Balance Therapy Are the Focus of New Book
• Psychiatric Drug Damage Ignored for Decades; CCHR Demands Federal Action

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

---

Show All News | Report Violation