SAN DIEGO, March 01, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) announces that a class action has been commenced on behalf of investors of Cabaletta Bio, Inc. ("Cabaletta" or the "Company") (NASDAQ: CABA). The lawsuit is currently on behalf of a potential class of Cabaletta investors who purchased or acquired Cabaletta common stock pursuant and traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about October 24, 2019 (the "IPO" or "Offering"); and (b) Cabaletta securities between October 24, 2019 and December 13, 2021, both dates inclusive (the "Class Period").
What actions may I take at this time? If you purchased or otherwise acquired Cabaletta securities during the Class Period, you have until April 29, 2022, to seek appointment as a lead plaintiff in the action. A lead plaintiff will act on behalf of all other class members in directing the lawsuit, including overseeing any case settlement.
If you suffered significant losses on your Class Period purchases, contact Johnson Fistel, LLP now to participate:
- Contact Lead Securities Analyst Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
- Click [here] or paste the following web address into your browser to join:
https://www.cognitoforms.com/JohnsonFistel/CabalettaBioInc
- For more information, visit our website at https://www.johnsonfistel.com/faq
There is no cost or obligation to you.
What are the allegations in the complaint? The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and misleading statements and/or failed to disclose that: (i) 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; (ii) accordingly, DSG3-CAART was not as effective as the Company had represented to investors; (iii) therefore, the Company had overstated DSG3-CAART's clinical and/or commercial prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
On December 14, 2021, Cabaletta 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."
What if I have information relevant to the case? Individuals with nonpublic information regarding Cabaletta should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP. Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in securities class action and derivative lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
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Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
To join this action, go to: https://www.cognitoforms.com/JohnsonFistel/CabalettaBioInc
