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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Shattuck Labs, Inc. - STTK

November 18, 2021 GMT

NEW YORK, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Shattuck Labs, Inc. (“Shattuck” or the “Company”) (NASDAQ: STTK).   Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Shattuck and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On November 9, 2021, Shattuck issued a press release reporting its financial results for the third quarter of 2021 and providing corporate updates.  Among other items, Shattuck reported that “[i]n November 2021, Shattuck and Takeda [Pharmaceutical Company Limited] mutually agreed to termination of the Collaboration Agreement for SL-279252 and SL-115154, originally executed in 2017.  Shattuck is no longer required to satisfy any remaining performance obligations, the Company will not make any payments to or receive any future milestone or royalty payments from Takeda, and all options to license and rights of first negotiation held by Takeda under the Collaboration Agreement were terminated.”  In addition, Shattuck reported the appointment of Dr. George Golumbeski as chairman of the Company’s Board of Directors, following the resignation of former chairman Josiah Hornblower in October 2021. 

On this news, Shattuck’s stock price fell $5.45 per share, or 28.62%, to close at $13.59 per share on November 9, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980