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

• $36 Million LOI to Acquire High Value Assets from Vivakor Inc in Oklahoma's STACK Play — Building Cash Flow and Scalable Power Infrastructure; $OLOX
• Kobie Wins for AI Innovations in the 2026 Stevie® Awards for Sales & Customer Service
• Author Jeff Bogle to Host Street Cats Mediterranean Cruise Featuring Cat Behaviorist Molly DeVoss
• Berman | Sobin | Gross LLP Celebrates 35 Years of Advocating for Maryland's Injured Workers and Families
• Art of Whiskey Hosts 3rd Annual San Francisco Tasting Experience During Super Bowl Week

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

• Kilmaine Saints to Anchor St. Patrick's Day Weekend with Live Album Recording at XL Live
• PADT Earns Prestigious 2025 Americas Customer Loyalty Award from Ansys, Part of Synopsys
• Florida Keys Visitors Can Save 15 Percent With KeysCaribbean's Advanced Booking Discount
• Sleep Basil Unveils Revamped Natural Latex Mattress Collection Page for Cooler, Cleaner, Better-Aligned Sleep
• Conexwest Delivers Custom Shipping Container MRI Lab, Saving California Hospital an Estimated $9 Million in Renovation Costs

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