San Diego, CA -- (SBWIRE) -- 02/27/2023 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at SQZ Biotechnologies Company.

Investors who purchased shares of SQZ Biotechnologies Company (NYSE: SQZ) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain SQZ Biotechnologies directors breached their fiduciary duties and caused damage to the company and its shareholders.

Watertown, MA based SQZ Biotechnologies Company, a clinical-stage biotechnology company, develops cell therapies for patients with cancer, autoimmune, infectious diseases, and other serious conditions. On or around October 29, 2022, SQZ Biotechnologies Company conducted its initial public offering ("IPO"), selling 4,411,765 shares priced at $16.00 per share.

Then, on December 1, 2022, SQZ Biotechnologies Company issued a press release "announc[ing] that Armon Sharei, PhD, Chief Executive Officer at SQZ Biotechnologies, will step down from his role as CEO and the Board of Directors, effective immediately," and that the Company will reduce its workforce by roughly 60% as it "pause[s] its APC, Activating Antigen Carrier (AAC) and Tolerizing Antigen Carrier (TAC) programs."

Shares of SQZ Biotechnologies Company (NYSE: SQZ) declined to as low as $0.731 per share on February 22, 2023.

Those who purchased shares of SQZ Biotechnologies Company (NYSE: SQZ) 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
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.