Gritstone bio(US:GRTS) Prnewswire·2024-07-31 15:10Core Viewpoint - Gritstone bio, Inc. is facing a federal securities class action due to allegations of misleading statements regarding the launch of its Phase 2b CORAL Study and its financial implications [1][2]. Group 1: Allegations and Impact - The complaint claims that Gritstone and its executives violated federal securities laws by failing to disclose the inability to launch the Phase 2b CORAL Study on time, which would hinder external funding and negatively affect the company's financial health [2]. - Gritstone's stock price dropped by $0.78, or 27.86%, closing at $2.02 per share on March 1, 2024, following the news of the allegations [3]. - On February 29, 2024, Gritstone announced a workforce reduction of approximately 40% due to the delay in the CORAL Phase 2b study, which impacted anticipated external funding [9]. Group 2: Legal Proceedings and Investor Actions - Investors who suffered losses exceeding $25,000 between March 9, 2023, and February 29, 2024, are encouraged to discuss their legal rights and options regarding the class action [6][7]. - The law firm Faruqi & Faruqi is investigating claims and has set an August 6, 2024, deadline for investors to seek the role of lead plaintiff in the class action [1][6].