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Investigation announced for Long-Term Investors in Atara Biotherapeutics, Inc. (NASDAQ: ATRA) over potential Wrongdoing

09-20-2022 07:03 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Atara Biotherapeutics, Inc. (NASDAQ: ATRA) shares over potential wrongdoing.

An investigation on behalf of investors in Atara Biotherapeutics, Inc. (NASDAQ: ATRA) shares over potential wrongdoing.

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

Investors who purchased shares of Atara Biotherapeutics, Inc. (NASDAQ: ATRA) 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 Atara Biotherapeutics directors breached their fiduciary duties and caused damage to the company and its shareholders.

San Francisco, CA based Atara Biotherapeutics, Inc., an off-the-shelf T-cell immunotherapy company, develops treatments for patients with cancer, autoimmune, and viral diseases in the United States.

On November 4, 2021, Atara Biotherapeutics, Inc issued a press release touting its T cell immunotherapy product candidate, ATA188. In this release, the Company claimed that there was "positive momentum around the ATA188 program" and "increasing awareness of and excitement . . . among the medical community and industry." Atara also made positive statements about ATA188 with regard to patients' sustained disability improvement and about Atara's progress with enrollment in Phase 2 efficacy and safety studies.

Then, on February 28, 2022, Atara Biotherapeutics, Inc issued a press release attached to their Form 8-K, providing an update on ATA188. Atara Biotherapeutics, Inc claimed that "a key data point at the time of the interim analysis will be EDSS [expanded disability status scale] improvement at six months for applicable patients. In the Phase 1 study, EDSS improvement at six months was >85 percent predictive of achieving sustained EDSS improvement at 12 months, the primary endpoint of EMBOLD [Phase 2 randomized, placebo-controlled study

On July 12, 2022, after the market closed, Atara Biotherapeutics, Inc announced the completion of its interim analysis of its phase 2 EMBOLD study for ATA188. The company stated:
"Based on the analysis of the EMBOLD data available at the time of the IA [interim analysis], there was not a sufficient dataset to draw conclusions about the predictive value of six months EDSS improvement for 12 months EDSS improvement. The IDSMC [Independent Data and Safety Monitoring Committee] believes the six-month interim endpoint may be an inaccurate measure of the potential of this intervention in this condition."

Shares of Atara Biotherapeutics, Inc (NASDAQ: ATRA) declined from $20.04 per share on November 4, 2022 to as low as $2.83 per share on August 1, 2022.

Those who purchased shares of Atara Biotherapeutics, Inc. (NASDAQ: ATRA) 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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