SAN DIEGO — Robbins Geller Rudman & Dowd LLP, a prominent law firm, has issued an announcement regarding a class action lawsuit against BioAge Labs, Inc., urging investors to come forward if they were affected by the company’s recent IPO issues. Shareholders who acquired stock in BioAge Labs (NASDAQ: BIOA) during its initial public offering on September 26, 2024, or based on the related registration statement, are invited to seek a lead plaintiff position in the lawsuit by the impending deadline of March 10, 2025.
The lawsuit, officially known as Soto v. BioAge Labs, Inc., case number 25-cv-00196, filed in the Northern District of California, alleges that BioAge Labs, along with some of its top executives and directors, violated the Securities Act of 1933. Specifically, it claims that the company’s offering documents were false and misleading, stating there were no safety issues when in fact there were.
BioAge Labs is a clinical-stage biopharmaceutical firm focused on developing therapies for metabolic diseases. During its IPO, the company managed to sell 12.65 million shares priced at $18 each. However, the lawsuit alleges that the company misrepresented its ability to meet primary endpoint goals in its STRIDES clinical trial, which involved the investigational drug azelaprag.
Further compounding investor concerns, on December 6, 2024, BioAge Labs disclosed that it would halt the ongoing Phase 2 study of azelaprag due to liver transaminitis observed in several study participants. This announcement led to a sharp 76% decline in the price of BioAge Labs’ stock, which subsequently settled at around $5.82 per share, significantly below the IPO price.
Investors who suffered financial losses from their investment in BioAge Labs and fit the criteria may apply to be appointed as lead plaintiff. This role is usually reserved for the investor with the largest loss from the class, who is also capable of adequately representing the interests of all class members in the lawsuit. Those interested in applying for this role are being directed to provide their contact details for further communication.
Robbins Geller Rudman & Dowd LLP, the law firm handling this case, is nationally recognized for representing investors in securities fraud cases. Over recent years, the firm has successfully secured substantial monetary recoveries for investors, topping various rankings in securities class action services.
The firm’s consistent track record shows a history of significant settlements in securities cases, emphasizing its proficiency in handling complex litigation effectively for its clients. Investors who have been potentially misled by BioAge Labs’ IPO materials may find reassurance in the law firm’s substantial resources and extensive experience in securities litigation.
As proceedings continue, affected parties are encouraged to reach out directly to the attorneys at Robbins Geller, J.C. Sanchez, or Jennifer N. Caringal, for more information on the lawsuit and guidance on the necessary steps to join the class action.
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