NEW YORK — Bronstein, Gewirtz & Grossman, LLC, a law firm with national recognition, has announced the filing of a class action lawsuit against Sana Biotechnology, Inc. and specific officers within the company. The litigation targets alleged violations of federal securities laws, focusing on the period between March 17, 2023, and November 4, 2024.
The lawsuit accuses Sana, a company listed on NASDAQ under the stock symbol SANA, of disseminating materially false and misleading statements about its business operations and financial health. The core of the allegations lies in the assertion that Sana misled investors regarding the viability of its product candidates and its capital sufficiency to sustain operations.
According to the filings, Sana purportedly overstated the promise of its product candidates, namely SC291 in oncology, SC379, and SG299, leading investors to harbor an overly optimistic evaluation of their potential success. Furthermore, the complaint details concerns about the company’s operational funding, suggesting that Sana was likely to reduce or cease funding for certain projects and significantly cut staff as part of a broader strategy to allocate resources more effectively.
Investors who acquired shares in Sana during the specified class period and suffered losses are now encouraged to join the class action suit aimed at recouping damages. Those interested in participating have until May 20, 2025, to request the court to appoint them as lead plaintiff, a role that is not necessary to share in any potential recovery.
Bronstein, Gewirtz & Grossman underlines their commitment to represent investors on a contingency fee basis, meaning they will only request reimbursement and attorney fees if the action results in a recovery. This setup underscores the firm’s alignment with the interests of affected investors without upfront costs.
The firm distinguishes itself through its history of representing shareholders and investors in securities fraud class actions, where it has secured substantial financial recoveries across numerous high-profile cases nationally.
For additional information or to contact a representative regarding the lawsuit, interested parties are advised to visit the firm’s website or directly contact their offices.
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