Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit against Frequency, Inc. (NASDAQ: FREQ) (“Frequency” or the “Company”) and its Chief Executive Officer, David Lucchino, alleging violations of §§10(b) and 20(a) of the Securities Exchange Act (15 U.S.C. §§78j(b) and 78t(a)) and Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b-5). If you purchased Frequency common stock between November 16, 2020, and March 22, 2021, inclusive (the “Class Period”), and have suffered a loss, realized or unrealized, you are encouraged to contact Joe Pettigrew for additional information at 844-818-6982 or email@example.com. The action was filed in the District of Massachusetts and is captioned Evans v. Frequency Therapeutics, Inc., No. 1:21-cv-10933 (D. Mass. June 3, 2021).
Frequency is a pharmaceutical company focused on the development and commercialization of a hearing loss treatment titled “FX-322,” which the Company has long promoted as a potential treatment for patients with severe sensorineural hearing loss (“SNHL”).
The complaint alleges that Frequency and CEO Lucchino misled investors about the Phase 2a study of FX-322.
Before the market opened on March 23, 2021, Frequency disclosed in a press release disappointing interim results of the Phase 2a study, revealing that subjects with mild to moderate SNHL did not demonstrate improvements in hearing measures versus placebo.
On this news, Frequency’s shares fell from $36.29 to $7.99, a 78% drop, damaging investors.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is August 2, 2021. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
What You Can Do
If you purchased Frequency common stock between November 16, 2020, and March 22, 2021, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at 844-818-6982 or firstname.lastname@example.org.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.
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