StockNews.AI
ATRA
StockNews.AI
201 days

Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating Atara Biotherapeutics, Inc. for potential violations of securities laws

1. Investigation into possible securities fraud involving Atara Biotherapeutics. 2. FDA issued a Complete Response Letter for Atara's EBVALLO treatment. 3. Manufacturing concerns led to clinical hold on Atara's IND applications. 4. Atara's stock fell 39% after the FDA decision on January 16. 5. Company plans to cut 50% of its workforce by June 2025.

5m saved
Insight
Article

FAQ

Why Very Bearish?

SEC investigations can lead to legal troubles, undermining investor confidence, as seen in past cases like Valeant Pharmaceuticals.

How important is it?

The investigation and FDA decisions directly impact Atara's stock performance and investor sentiment.

Why Short Term?

Immediate response from investors typically due to stock price decline; legal matters may linger.

Related Companies

ATRAVRTXNVSGILD
PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Atara Biotherapeutics, Inc. (Nasdaq: ATRA) (“Atara” or the “Company”). The investigation concerns whether Atara Biotherapeutics, Inc. and certain of its officers and/or directors have engaged in securities fraud. PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION Atara announced on January 16, 2025, that it had received “a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) for the EBVALLOTM (tabelecleucel) Biologics License Application (BLA) as monotherapy treatment for adult and pediatric patients two years of age and older with Epstein-Barr virus positive post-transplant lymphoproliferative disease (EBV+ PTLD), who have received at least one prior therapy including an anti-CD20 containing regimen.” According to the Company, “The CRL was solely related to observations as part of a standard pre-license inspection of a third-party manufacturing facility for EBVALLO.” The FDA took the additional step of placing a clinical hold on the biotech’s active Investigational New Drug applications due to the same manufacturing concerns that led to Ebvallo’s rejection. In addition to Ebvallo, the hold also affected the company’s allogeneic CD19 CAR T therapy ATA3219, which was testing for non-Hodgkin’s lymphoma and systemic lupus erythematosus. Atara had to suspend screening and enrollment of new study patients in both programs. Only those already enrolled in trials who could “potentially derive clinical benefit” can continue receiving treatment under ongoing study protocols. On January 16, 2025, the stock fell $4.82 per share, to close at $7.62, a decline of 39%. The company has subsequently announced, on January 27, 2025, that it would cut 50% of its workforce by June of this year. Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation. If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com. Contact: Wolf Haldenstein Adler Freeman & Herz LLPGregory Stone, Director of Case and Financial AnalysisEmail: gstone@whafh.com or classmember@whafh.comTel: (800) 575-0735 or (212) 545-4774 This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Related News