Sign In
CRBU.US
id: 581

Caribou Biosciences (CRBU) Investor Settlement

N.D. California
Court
5:23-cv-01742
Case number
23 Jul 2021
Class period Start
13 Jul 2023
Class period End
Caribou Biosciences reached an agreement with $CRBU investors to settle claims related to the CB-010's treatment effectiveness.

Case Details:

On December 12, 2022, Caribou issued a press release, which stated that Cohort 1 results show:
  • 6 of 6 patients achieved a CR as the best response, 3 of 6 patients maintained a durable CR at 6 months, and 2 of 6 patients maintain a long-term CR at the 12-month scan and remain on the trial.
  • 18 months is the longest CR maintained to date in ANTLER, achieved by the first patient dosed with CB-010 (Emphases added).
As a result, worries about how long the CB-010 treatment lasts were confirmed, even though Caribou had repeatedly said otherwise.

On this news, $CRBU fell over 9%.

Based on these events, Caribou was accused of the following details:
  • The effectiveness of CB-010's treatment didn't last as long as it was stated.
  • As a result, the clinical and commercial prospects of CB-010 were exaggerated.
Caribou Biosciences reached an agreement with $CRBU investors to settle claims related to the CB-010's treatment effectiveness.
Case Status
Tentative Settlement
Alleged Offence
Misleading Statements
Failure to Disclose
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Filing date
10 February 2023
Lead Plaintiff Deadline
11 April 2023
Plaintiffs
Ron Bergman
Attorneys
Pomerantz LLP (Los Angeles, CA)
Defendants
Rachel E. Haurwitz, Jason V. O'Byrne, Ryan Fischesser, Scott Braunstein, Andrew Guggenhime, Jeffrey Long-McGie, Natalie R. Sacks
Judge
Hon. Vince Chhabria
Trades matching type
FIFO

Frequently Asked Questions

Caribou Biosciences Inc

Caribou Biosciences, Inc., a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the Uni...

    Ticker
    CRBU.US
    ISIN
    US1420381089
    CIK
    1619856
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    2929 7th Street, Berkeley, CA, United States, 94710