Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Portnoy Law: Lawsuit Filed On Behalf of Frequency Therapeutics, Inc. Investors

06/11/2021 | 12:43pm EDT

Click here to join the case

LOS ANGELES, June 11, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Frequency Therapeutics, Inc. ("Frequency" or "the Company") (NASDAQ: FREQ) investors that acquired securities between November 16, 2020 and March 22, 2021.  

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Frequency Therapeutics has conducted several clinical studies evaluating the safety and effectiveness of FX-322, the most significant of which was a Phase 2a study, beginning in October 2019. In April 2020, David L. Lucchino Frequency’s Chief Executive Officer (“CEO”), began selling his shares of Frequency, totaling over 350,000 shares sold, earning over $10.5 million.

Before the market opened, on March 23, 2021, Frequency disclosed in a press release disappointing interim results of the Phase 2a study, which revealed that subjects with mild to moderate SNHL did not demonstrate improvements in hearing measures versus placebo.

Frequency’s shares fell $28.30, or 78%, on this new, to close at $7.99 per share, thereby damaging investors.

It is alleged in this complaint that throughout the Class Period, Frequency made materially misleading and/or false statements, as well as failed to disclose material adverse facts about Frequency’s business, operations, and prospects. Specifically, Frequency failed to disclose: (1) that Frequency’s Phase 2a study did not yield positive results in support of commercialization of FX-322; and (2) that, as a result, Frequency’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

Attorney Advertising

Primary Logo

© GlobeNewswire 2021
Latest news "Companies"
01:45pDOMINION ENERGY  : Additional Utility Bill Assistance Available for Dominion Energy Customers
01:44pDays Inn Partners with Husky for ‘Drive to Win' Summer Sweepstakes
01:44pKBRA Assigns Preliminary Ratings to GS Mortgage-Backed Securities Trust 2021-GR1 (GSMBS 2021-GR1)
01:43pSOUTHWEST AIRLINES  : Longtime Southwest Airlines CEO will step down next year
01:43pPHISHING AWARENESS TRAINING : Best Practices for Your Employees
01:43pMax Cheprasov to Speak at the Automation CXO Conclave
01:42pALLISON+PARTNERS  : Named PR and Marketing Agency of Record for Nordic Consulting
01:41pBITFARMS  : Provides Reminder of Upcoming Annual General and Special Meeting and Issues Addendum to Previously Filed Management Information Circular
01:41pFire Sprinklers and A Closed Door Save Children From Fire
01:39pBIG US BANKS TO EMPLOYEES : Return to the office vaccinated
Latest news "Companies"