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SBTX LAWSUIT FILED: JAKUBOWITZ LAW PURSUES CLAIMS ON BEHALF OF SILVERBACK THERAPEUTICS, INC. SHAREHOLDERS
December 01, 2021 5:26 PM EST | Source: Jakubowitz Law
New York, New York--(Newsfile Corp. - December 1, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Silverback Therapeutics, Inc. (NASDAQ: SBTX).
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This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Silverback common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about December 3, 2020 and/or (b) Silverback securities between December 3, 2020 and September 10, 2021, both dates inclusive.
Shareholders interested in representing the class of wronged shareholders have until January 4, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Silverback Therapeutics, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Silverback's lead product candidate SBT6050, which is in a Phase I/Ib clinical trial, a TLR8 agonist linker-payload conjugated to a HER2-directed monoclonal antibody that targets tumors, such as breast, gastric, and non-small cell lung cancers, was less effective than the Company had represented to investors; (ii) accordingly, the Company had overstated SBT6050's commercial and/or clinical prospects; and (iii) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106204