Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Silverback Therapeutics, Inc. (SBTX)
NEW YORK, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against of Silverback Therapeutics, Inc. (“Silverback” or the “Company”) (NASDAQ: SBTX) in the United States District Court for the Western District of Washington on behalf of those who purchased Silverback common stock
(1) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s December 3, 2020 initial public offering (“IPO”) and/or (2) between December 3, 2020 and September 10, 2021, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s lead product candidate SBT6050 (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; (2) accordingly, the Company had overstated SBT6050’s commercial and/or clinical prospects; and (3) as a result, the IPO 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Silverback during the Class Period should contact the Firm prior to the January 4, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
