San Diego, CA -- (SBWire) -- 03/18/2022 --An investor, who purchased shares of Cabaletta Bio, Inc. (NASDAQ: CABA), filed a lawsuit over alleged violations of Federal Securities Laws by Cabaletta Bio, Inc. in connection with the Company's initial public offering conducted on or about October 24, 2019 (the "IPO" or "Offering") and between October 24, 2019 and December 13, 2021.
Investors who purchased shares of Cabaletta Bio, Inc. (NASDAQ: CABA) have certain options and for certain investors are short and strict deadlines running. Deadline: April 29, 2022. NASDAQ: CABA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Philadelphia, PA based Cabaletta Bio, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases.
On September 30, 2019, Cabaletta Bio, Inc. filed a registration statement on Form S-1 with the SEC in connection with the IPO, which, after amendment, was declared effective by the SEC on October 24, 2019 (the "Registration Statement").
On October 25, 2019, Cabaletta Bio, Inc. filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, together with the Registration Statement, the "Offering Documents").
Pursuant to the Offering Documents, Cabaletta Bio, Inc. conducted the IPO, selling approximately 6.8 million shares of common stock priced at $11.00 per share, for approximate proceeds of $69.5 million to the Company after applicable underwriting discounts and commissions, and before expenses.
On December 14, 2021, Cabaletta Bio, Inc. issued a press release "report[ing] top-line data on biologic activity from the two lowest dose cohorts in the DesCAARTes™ Phase 1 clinical trial of DSG3-CAART for the treatment of patients with mucosal Pemphigus Vulgaris (mPV)." Among other results, Cabaletta reported that two cohort participants had "disease activity scores that worsened . . . after DSG3-CAART infusion" and thus "reduced or discontinued selected systemic therapies prior to DSG3-CAART infusion, as required by the protocol", while another participant "subsequently received systemic medication to improve disease activity after DSG3-CAART infusion."
Shares of Cabaletta Bio, Inc. (NASDAQ: CABA) declined from $14.95 per share on November 2, 2021 to as low as $1.76 per share on March 8, 2022.
According to the complaint the plaintiff alleges on behalf of purchasers of Cabaletta Bio, Inc. (NASDAQ: CABA) common shares between October 24, 2019 and December 13, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 24, 2019 and December 13, 2021, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that top-line data of the Phase 1 Clinical Trial indicated that DSG3-CAART had, among other things, worsened certain participants' disease activity scores and necessitated additional systemic medication to improve disease activity after DSG3-CAART infusion, that accordingly, DSG3-CAART was not as effective as the Company had represented to investors, that therefore, the Company had overstated DSG3-CAART's clinical and/or commercial prospects, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Cabaletta Bio, Inc. (NASDAQ: CABA) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Cabaletta Bio, Inc. (NASDAQ:CABA) Investor Notice: Lawsuit Alleges Securities Laws Violations
A lawsuit was filed on behalf of investors in Cabaletta Bio, Inc. (NASDAQ:CABA) shares over alleged securities laws violations.