The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Cabaletta Bio, Inc. (NASDAQ: CABA) who purchased : (a) Cabaletta common stock pursuant and/or traceable to documents issued in connection with the Company’s initial public offering conducted on or about October 24, 2019; and/or (b) Cabaletta securities between October 24, 2019 and December 13, 2021, both dates inclusive. The action, which was filed in the United States District Court for the Eastern District of Pennsylvania, alleges that the Company violated federal securities laws.
In particular, the Cabaletta lawsuit alleges that (i) top-line data of the Phase 1 Clinical Trial indicated that Cabaletta’s lead product candidate, DSG3-CAART, had, among other things, worsened certain participants’ disease activity scores and necessitated additional systemic medication to improve disease activity after DSG3-CAART infusion; (ii) accordingly, DSG3-CAART was not as effective as the Company had represented to investors; (iii) therefore, the Company had overstated DSG3-CAART’s clinical and/or commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 29, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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