#United States #New York #Gross Law Firm #Caribou Biosciences #CRBU

Overview of the Class Action Against Caribou Biosciences

Caribou Biosciences, Inc. (NASDAQ: CRBU) is currently facing legal action from investors through a class action lawsuit lodged by The Gross Law Firm. The lawsuit comes in the wake of allegations that the company made materially false and misleading statements regarding its clinical product, particularly CB-010, which is being developed for treating patients with relapsed or refractory B-cell non-Hodgkin lymphoma (r/r B-NHL).

Allegations Against Caribou Biosciences

The complaint specifies several key allegations against Caribou, particularly during the class period that spans from July 14, 2023, to July 16, 2024.

1. Misrepresentation of Product Efficacy: The firm claims that Caribou overstated the safety and efficacy of CB-010 compared to existing autologous CAR-T therapies. Such inflated claims may have adversely affected investor decisions and the market perception of the product's potential.

2. Financial Viability Concerns: The lawsuit asserts that Caribou Biosciences was at significant risk of lacking sufficient cash and liquidity to support ongoing business operations and fundamental research activities, specifically related to their allogeneic CAR-NK platform.

3. Impact on Business Operations: The plaintiffs argue that the alleged misrepresentations and omissions had severe consequences for the company's operational integrity and overall business trajectory. These risks were not disclosed adequately to the shareholders, which could result in substantial financial losses.

4. General Misleading Public Statements: Throughout the class period, the defendants are accused of making general public statements that were materially false and misleading, contributing to an artificial inflation of the stock price.

Next Steps for Affected Shareholders

Investors who purchased shares during the stipulated class period are urged to contact The Gross Law Firm to learn about their options.

Key points for affected shareholders include:

• - Registering Participation: Shareholders are encouraged to register for the class action, even if they do not seek lead plaintiff status. Registration allows for the monitoring of their portfolio through tailored updates regarding the progress of the case. The deadline for registering is February 24, 2025.
• - Potential for Recovery: Participation in the class action does not obligate shareholders to assume any costs. By registering, investors maintain the opportunity to claim potential recovery if the court rules in favor of the plaintiffs.

Why Choose The Gross Law Firm?

The Gross Law Firm emphasizes its commitment to holding companies accountable for their business practices. With a focus on protecting shareholder rights and ensuring corporate transparency, the firm aims to assist investors who believe they have been misled by deceptive practices.

The Gross Law Firm represents a significant legal advocate for investors, striving for restitution for any potential damages incurred from false corporate representations. They highlight that previous successes do not guarantee similar outcomes but stress their dedication to ethical legal processes and shareholder recovery.

Contact Information

For more information on the case, investors are invited to contact:

• - The Gross Law Firm

15 West 38th Street, 12th Floor
New York, NY 10018
Email: [email protected]
Phone: (646) 453-8903

Conclusion

As developments continue regarding Caribou Biosciences and the ongoing class action lawsuit, shareholders impacted by the allegations have the opportunity to take crucial steps toward accountability and potential recovery. It is advisable for all affected investors to stay informed and engaged with legal proceedings and updates from The Gross Law Firm.