Pomerantz Law Firm Launches Investigation into Atara Biotherapeutics Investors' Claims

Pomerantz Law Firm Investigates Atara Biotherapeutics

On January 28, 2025, Pomerantz LLP announced its investigation into claims made on behalf of investors in Atara Biotherapeutics, Inc. (NASDAQ: ATRA). The firm is specifically looking into whether the company, along with its officers and directors, may have engaged in securities fraud or other unlawful practices.

Significant Developments in Atara's Operations

A major catalyst for the investigation came shortly after Atara issued a press release on January 16, 2025. The press statement revealed that the company received a Complete Response Letter (CRL) from the FDA regarding its Biologics License Application (BLA) for the EBVALLO™ treatment. This therapy is aimed at patients aged two years and older suffering from Epstein-Barr virus positive post-transplant lymphoproliferative disease (EBV+ PTLD). Notably, the FDA's letter indicated that the CRL was solely related to observations made during a routine pre-licensing inspection at a third-party manufacturing facility.

However, this announcement triggered a steep decline in Atara’s stock price, which fell by $6.59 per share—or 50.08%—over the next two trading sessions, ultimately closing at $6.57 on January 16.

On January 21, 2025, the situation worsened. Atara disclosed a clinical hold placed by the FDA on its active Investigational New Drug (IND) applications due to compliance issues pertaining to Good Manufacturing Practices (GMP) observed during the same pre-license inspection. This newer revelation led to another drop in Atara's stock price, down by $0.52 per share (7.91%) to close at $6.05.

Pomerantz Firm's Role

Pomerantz LLP, headquartered in New York, Chicago, Los Angeles, London, and Paris, is recognized as a premier firm in corporate, securities, and antitrust class litigation. The firm has a long history, founded by Abraham L. Pomerantz, a respected figure in class-action law. Today, it continues to uphold his legacy, advocating for the rights of victims impacted by securities fraud and corporate misconduct.

The firm emphasizes that prior results do not guarantee similar outcomes in future cases. As they actively pursue this investigation, they encourage any Atara investors with information relevant to the case to reach out to Danielle Peyton at [email protected] or by phone at 646-581-9980, extension 7980.

This investigation unfolds amidst increasing scrutiny of Atara's operational practices and compliance with regulatory standards. Investors are advised to stay updated on the situation, as additional developments may lead to significant legal implications.

For further insights into securities fraud and market manipulation cases, visit Pomerantz Law Firm's website.