FREQUENCY SHAREHOLDER ALERT
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Frequency Therapeutics To Contact Him Directly To Discuss Their Options
NEW YORK - ( NewMediaWire ) - July 20, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Frequency Therapeutics, Inc. (“Frequency” or the “Company”) (NASDAQ: FREQ) and reminds investors of the August 2, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in Frequency stock or options between November 16, 2020 and March 22, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/FREQ.
There is no cost or obligation to you.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements regarding the Company’s Phase 2a study of FX-322, a potential therapy designed to improve hearing function.
Specifically, before the market opened on Tuesday, March 23, 2021, Frequency disclosed in a press release deeply disappointing interim Phase 2a results, revealing that subjects with mild to moderate SNHL did not demonstrate improvements in hearing measures versus placebo.
These results dramatically undercut the narrative the Company had spun since Frequency’s IPO and investors reacted accordingly. That day, Frequency’s shares fell from $36.29 to $7.99, a 78% drop, representing a decline in the Company’s market capitalization of approximately $955 million.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Frequency’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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