Gritstone bio(US:GRTS) Prnewswire·2024-07-25 09:45Core Viewpoint - Gritstone bio, Inc. is facing allegations of issuing materially false and misleading statements regarding its COVID-19 vaccine development and funding capabilities, which has led to a class action lawsuit by shareholders [2]. Group 1: Allegations and Impact - The complaint alleges that Gritstone would be unable to launch the Phase 2b CORAL Study for its approved COVID-19 vaccine within the timeframe communicated to investors [2]. - This inability to launch the study is expected to impair Gritstone's ability to secure external funding, negatively affecting its balance sheet and cash position [2]. - Consequently, Gritstone is accused of overstating its capability to successfully develop and commercialize its products, rendering its public statements materially false and misleading [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as March 9, 2023, to February 29, 2024, and shareholders are encouraged to register for participation [1]. - The deadline for shareholders to seek lead plaintiff status is August 6, 2024, and there is no cost or obligation to participate in the case [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [3]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and fraud [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [4].