NEW YORK, July 08, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating the officers and directors of Frequency Therapeutics, Inc. (“Frequency” or the “Company”) (NASDAQ: FREQ) for potential breaches of fiduciary duties, waste of corporate assets, and unjust enrichment between November 16, 2020 and March 22, 2021.
A securities class action complaint is pending in the United States District Court for the District of Massachusetts (the “Securities Class Action”). The complaint in the Securities Class Action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Frequency’s Phase 2a study did not yield positive results to support the commercialization of FX-322; and (2) that, as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you wish to discuss your rights or interests, 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.
