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

• Psychedelics for Vets? CCHR Cites History of Exploitation and Failed Science
• GreenPal Empowers Lawn Care Pros Leveraging AI, Surpasses 5 Million Transactions
• Santa Monica Businesses Push Back on Bus Stop Relocation That Threatens Access and Safety
• What are the signs of an AC refrigerant leak?
• The Blue Luna Encourages Local Schools to Take Steps to Enhance Safety for Students and Staff

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

• Philadelphia Homeowners Now Have a Faster Way to Sell Their House Without Agents or Repairs
• The Sessions Studios Secures $300 Million Commitment to Launch World-Class Studio and 15-Film Global Slate
• Smart Resnse Unveils Smart Resnse(SRMS) Token-Powered AI Orchestration Platform to Revolutionize Multi-Billion Dollar Market
• Josh and Heidi Follow Up the Much Anticipated and Successful Launch of the "Spreading the Good BUZZ" Podcast with a Personal Request
• Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market

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