Caribou Biosciences Faces Class Action Securities Lawsuit Over Alleged Fraud.
Levi & Korsinsky, LLP is notifying investors of Caribou Biosciences, Inc. (NASDAQ: CRBU) about a class action securities lawsuit. The legal action seeks to recover losses sustained by investors who were allegedly impacted by securities fraud between July 14, 2023, and July 16, 2024.
The lawsuit claims that Caribou Biosciences and its leadership made misleading statements and/or failed to disclose critical information that negatively affected investors. Specifically, the lawsuit addresses several key allegations:
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Exaggerated Claims about CB-010: The complaint alleges that the defendants overstated the safety, effectiveness, and durability of Caribou’s CB-010 treatment compared to approved autologous CAR-T cell therapies for patients with relapsed/refractory B-NHL and/or LBCL. The statements regarding CB-010's clinical outcomes and its market potential were also allegedly misleading.
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Financial Struggles: Investors are also claiming that Caribou failed to disclose its significant financial risks, including a potential lack of sufficient cash, liquidity, and capital to sustain its ongoing business activities, including preclinical research for its allogeneic CAR-NK platform.
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Impact on Operations: The complaint further suggests that these financial challenges and the misrepresentation of CB-010’s potential would severely affect Caribou’s business and operations, which was not adequately communicated to investors.
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Misleading Public Statements: As a result of these factors, the lawsuit claims that the public statements made by Caribou Biosciences were materially false and misleading throughout the relevant period, which contributed to financial losses for its investors.
If you are an investor in Caribou Biosciences, you may be eligible to join this class action. For more information, or if you would like to discuss the case, please contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by phone at (212) 363-7500 or follow this link to get more information.
Caribou Biosciences, Inc. is a leading biotechnology company focused on developing transformative CRISPR-based cell therapies. The company uses its proprietary CRISPR/Cas9 platform to create cutting-edge allogeneic cell therapies designed to treat various diseases, including cancer and autoimmune disorders. Caribou's technologies leverage its innovative genome-editing capabilities to enhance the precision, durability, and safety of treatments. The company aims to provide life-changing therapies to patients with unmet medical needs and is advancing its clinical programs with a focus on oncology.
Levi & Korsinsky LLP is a recognized leader in securities litigation, with a track record of recovering hundreds of millions of dollars for shareholders over the past two decades. With a dedicated team of over 70 professionals, the firm specializes in complex securities cases and has been featured in ISS Securities Class Action Services' Top 50 Report for seven consecutive years.
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