#USA #New York #Class Action #Gross Law Firm #Sana Biotechnology

Shareholder Alert from The Gross Law Firm

On April 10, 2025, The Gross Law Firm issued a critical notice for the shareholders of Sana Biotechnology, Inc. (NASDAQ: SANA). The firm has called for those individuals who purchased shares during the defined class period to take action regarding a possible lead plaintiff appointment in an ongoing lawsuit related to the company.

Important Dates

The class period outlined by the notice spans from March 17, 2023, to November 4, 2024. Potential plaintiffs are encouraged to register before the lead plaintiff deadline, which is set for May 20, 2025. This registration process is essential for those looking to participate, as it ensures their voice is heard in the proceedings.

Allegations Against Sana Biotechnology

The lawsuit takes aim at several significant allegations against the company, claiming that during the aforementioned class period, the defendants made misleading statements and failed to disclose critical information pertaining to the company’s financial health. The allegations detail that:
1. Financial Insufficiency: Sana was at notable risk of lacking sufficient funds to maintain its current operations and develop its product candidates.
2. Misrepresentation of Product Potential: Defendants allegedly communicated that SC291 for oncology, SC379, and SG299 were more promising than the factual situation indicated.
3. Decreased Funding Risks: It is claimed that to preserve cash and focus on more promising products, Sana was likely to reduce funding for or abandon less viable candidates, potentially leading to considerable staff reductions as well.
4. Overstating Financial Capacity: The lawsuit argues that the defendants exaggerated Sana's financial capabilities to undergird existing operations and future developments.
5. Materially Misleading Statements: Overall, the public statements made by the firm are claimed to have been materially false or misleading at all relevant times.

Next Steps for Shareholders

For shareholders eager to engage in this process, they must register by the May 20, 2025 deadline to be considered for lead plaintiff status. Following registration, shareholders will gain access to portfolio monitoring software that will provide important status updates throughout the life of the case. Importantly, participation incurs no cost or obligation, making it a risk-free opportunity for those looking to reclaim potential losses.

About The Gross Law Firm

The Gross Law Firm is recognized nationally for its commitment to upholding the rights of investors duped by fraud or other illegal business activities. The firm emphasizes the importance of holding organizations accountable for responsible business practices and aims to protect investors against unethical or misleading corporate behavior. Should shareholders navigate through the complexities of this case with an experienced legal team, they can help ensure that their rights are upheld.

Contact Information

Interested shareholders should take prompt action to secure their interests. For inquiries or to begin the registration process, they can contact The Gross Law Firm at:

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

The reminder for this lead plaintiff deadline serves as an opportunity for Sana shareholders to stand together and seek justice for any financial injuries they may have experienced due to potentially deceptive practices by the company.