The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Frequency Therapeutics, Inc. (NASDAQ: FREQ) who purchased shares between November 16, 2020 and March 22, 2021. The action, which was filed in the United States District Court for the District of Massachusetts, alleges that the Company violated federal securities laws.
In particular, the Frequency Therapeutics lawsuit alleges that the Company’s Phase 2a trial results failed to live up to the Company’s expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322’s potential. These statements materially misled the market and artificially inflated the value of Frequency’s common stock.
Shareholders have until August 2, 2021 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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