INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Shattuck Labs, Inc. (STTK) Investors
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 Shattuck Labs, Inc. (“Shattuck” or the “Company”) (NASDAQ: STTK) securities: (1) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Shattuck’s October 2020 initial public offering (the “IPO” or “Offering”); and/or (2) between October 9, 2020 and November 9, 2021, inclusive (the “Class Period”). Shattuck investors have until April 1, 2022 to file a lead plaintiff motion.
Investors suffering losses on their Shattuck 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 email@example.com.
On or about October 9, 2021, Shattuck conducted its IPO, selling approximately 13.7 million shares at $17.00 per share.
On November 9, 2021, Shattuck announced that it had terminated its Collaboration Agreement with Millennium Pharmaceuticals, Inc. (“Takeda”), a wholly owned subsidiary of Takeda Pharmaceutical Company, Ltd. The Company issued a press release stating that “Shattuck and Takeda mutually agreed” to the termination and that “the Company will not make any payments to or receive any future milestone or royalty payments from Takeda.”
On this news, Shattuck’s stock fell $5.45, or 28%, to close at $13.59 per share on November 9, 2021, thereby injuring investors. On January 28, 2022, the Company’s share price closed at $6.13 per share, less than half of its original IPO price.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) the Collaboration Agreement with Takeda was not solid; (2) Takeda and Shattuck would mutually agree to terminate the Collaboration Agreement in essentially one year; (3) as a result, Shattuck would cease to receive any future milestone, royalty, or other payments from Takeda; and (4) as a result, defendants statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Shattuck 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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