LOS ANGELES, Oct. 11, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Allogene Therapeutics, Inc. ("Therapeutics" or the "Company") (NASDAQ: ALLO) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation concerns whether Allogene and certain of its directors and/or officers have engaged in securities fraud or other unlawful business practices. Post-market, Allogene issued a press release on October 7, 2021 reporting that the U.S. Food and Drug Administration (“FDA”) had placed a hold on Allogene’s clinical trials of allogeneic CAR T (AlloCAR T™) therapies for cancer. It was stated in this press release that the clinical hold “follows the Company’s notification to the FDA of a chromosomal abnormality in an ALPHA2 study patient which was detected in a bone marrow biopsy undertaken to assess pancytopenia (low blood counts)” and that “[a] n investigation is underway to further characterize the observed abnormality, including any clinical relevance, evidence of clonal expansion, or potential relationship to gene editing. On October 8, 2021 Allogene’s stock price dropped sharply on this news during intraday trading, damaging investors.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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