Lawsuit filed for Investors in Shattuck Labs, Inc. (NASDAQ: STTK) shares

An investor, who purchased shares of Shattuck Labs, Inc. (NASDAQ: STTK), filed a lawsuit over alleged violations of Federal Securities Laws by Shattuck Labs, Inc..

Investors who purchased shares of Shattuck Labs, Inc. (NASDAQ: STTK) have certain options and for certain investors are short and strict deadlines running. Deadline: April 1, 2022. NASDAQ: STTK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Austin, TX based Shattuck Labs, Inc., a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. On November 9, 2021, before trading hours, Shattuck Labs, Inc. (NASDAQ: STTK) reported its financial results for the third quarter of 2021 and providing corporate updates. Among other things, Shattuck Labs, Inc. reported that “[i]n November 2021, Shattuck and Takeda [Pharmaceutical Company Limited] mutually agreed to termination of the Collaboration Agreement for SL-279252 and SL-115154, originally executed in 2017. Shattuck is no longer required to satisfy any remaining performance obligations, the Company will not make any payments to or receive any future milestone or royalty payments from Takeda, and all options to license and rights of first negotiation held by Takeda under the Collaboration Agreement were terminated.” Further, Shattuck reported the appointment of a new chairman of the Company’s Board of Directors following the resignation of the former chairman in October 2021.

Shares of Shattuck Labs, Inc. (NASDAQ: STTK) declined from $20.13 per share on November 1, 2021, to as low as $7.88 per share on November 30, 2021.

The plaintiff claims that the materials supporting the IPO and defendants between October 9, 2020 and November 9, 2021 made false and/or misleading statements and/or failed to disclose that the Collaboration Agreement with Takeda was not solid, that Takeda and Shattuck would “mutually agree” to terminate the Collaboration Agreement in essentially one year, that as a result, Shattuck would cease to receive any future milestone, royalty, or other payments from Takeda, and that as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Shattuck Labs, Inc. (NASDAQ: STTK) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.