#United States #New York #Class Action #Sana Biotechnology #Levi Korsinsky

Class Action Lawsuit Alert for Sana Biotechnology, Inc.

In recent news, Levi & Korsinsky, LLP has officially notified shareholders of Sana Biotechnology, Inc. (NASDAQ: SANA) regarding a class action lawsuit that may have significant implications for current and former investors. The firm is reaching out to individuals who invested in the company between March 17, 2023, and November 4, 2024, as they may have been adversely affected by the allegations presented in the lawsuit.

Understanding the Claims

The class action lawsuit aims to recover losses sustained due to alleged securities fraud. Among the key accusations are that the company misled investors about its financial stability and the potential of its product candidates. Specifically, the complaint outlines several critical points:

1. Financial Risks: The lawsuit claims that Sana Biotechnology was at substantial risk of lacking adequate funds to sustain its business operations and push forward with its product development.
2. Misleading Information: It suggests that the company's products, including SC291 in oncology and two other candidates, were not as promising as portrayed to investors, leading to unrealistic expectations regarding their performance and prospects.
3. Operational Changes: The complaint posits that Sana was planning to reduce funding and potentially discontinue various product lines, aiming to conserve resources for projects deemed more viable, which further misplaced investor confidence.
4. False Public Statements: As a result of the above actions, the firm asserts that the public disclosures from Sana were materially misleading and not reflective of the true state of the company.

Important Deadlines for Investors

For those affected by the changes in Sana's stock performance, it's crucial to recognize the deadline for action. Investors who have suffered losses during the specified period have until May 20, 2025, to file a claim to become the lead plaintiff in the case. However, participation in any potential financial recovery does not necessitate serving in that role, allowing more investors to benefit without the complexities of leading a lawsuit.

No Financial Risk to Participate

Interested shareholders should note that joining the class action comes at no cost to them. Typically, class members can recover compensation without any initial out-of-pocket expenses, making it a feasible option for those looking to seek restitution for their financial losses.

Background on Levi & Korsinsky

With a strong history of representing shareholders in securities litigation, Levi & Korsinsky has a proven track record of securing favorable outcomes for investors. In the past two decades, the firm has won numerous significant cases, recovering hundreds of millions of dollars for those affected by corporate misconduct. They emphasize their expertise in handling complex securities issues,
boasting a dedicated team of over 70 professionals focused on advocating for investor rights.

As professionals from Levi & Korsinsky prepare to assist clients amidst these claims, the firm encourages any affected shareholders to contact them, should they have questions or require clarification regarding the lawsuit or their eligibility.

Contact Levi & Korsinsky

For further information, investors can reach Joseph E. Levi, Esq. or Ed Korsinsky, Esq. directly through their New York office:

• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004
• - Email: [email protected]
• - Phone: (212) 363-7500

Investors are advised to stay informed about developments in this evolving situation and consider their options carefully as they navigate the repercussions of this lawsuit.