The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Fate Therapeutics, Inc. (NASDAQ: FATE) who purchased shares between April 2, 2020 and January 5, 2023. The action, which was filed in the United States District Court for the Southern District of California, alleges that the Company violated federal securities laws.
(i) the global collaboration and option agreement for cell-based cancer immunotherapies that the Company entered into with Janssen Biotech, Inc. (the "Janssen Collaboration Agreement") was less sustainable than Fate had represented to investors; (ii) 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; (iii) as a result, Fate had overstated the impact of the Janssen Collaboration Agreement’s on Fate’s long-term clinical and commercial profitability; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until March 22, 2023 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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