According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- certain manufacturing issues, as well as deficiencies inherent in the ALLELE study, made it unlikely that the U.S. Food and Drug Administration (“FDA”) would approve the tabelecleucel Biologics License Application (“BLA”);
- accordingly, tabelecleucel’s regulatory prospects were overstated;
- the aforementioned manufacturing issues also subjected Atara to a heightened risk of regulatory scrutiny, as well as jeopardized its ongoing clinical trials;
- all the foregoing was likely to have a significant negative impact on Atara’s business and financial condition; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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