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Investigation announced for Investors in shares of Graphite Bio, Inc. (NASDAQ: GRPH)

05-20-2022 01:32 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Graphite Bio, Inc. (NASDAQ: GRPH) shares over potential wrongdoing at Graphite Bio, Inc

An investigation on behalf of investors in Graphite Bio, Inc. (NASDAQ: GRPH) shares over potential wrongdoing at Graphite Bio, Inc

An investigation was announced over potential breaches of fiduciary duties by certain directors at Graphite Bio, Inc.

Investors who purchased shares of Graphite Bio, Inc. (NASDAQ: GRPH) and currently hold any of those NASDAQ: GRPH shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Graphite Bio, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

San Francisco, CA based Graphite Bio, Inc., a clinical-stage gene editing company, engages in developing therapies for serious and life-threatening diseases in the United States On or around June 25, 2021, Graphite Bio, Inc. conducted its initial public offering ("IPO"), issuing 14 million shares of common stock priced at $17.00 per share.
Then, on March 21, 2022, Graphite Bio, Inc. provided business updates and announcing is fourth quarter and fiscal year 2021 financial results. Among other items, Graphite Bio, Inc. disclosed that the early proof-of-concept data from the Phase 1/2 CEDAR clinical trial for GPH101 in sickle cell disease are now expected in 2023, attributing the delay "to impacts of the recent COVID-19 Omicron variant surge on patients and site resources and operations[.]"

Shares of Graphite Bio, Inc. (NASDAQ: GRPH) declined from $11.30 per share on February 16, 2022, to as low as $4.95 per share on April 1, 2022.

Those who purchased shares of Graphite Bio, Inc. (NASDAQ: GRPH) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
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.

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