Atara Biotherapeutics, Inc. Class Action Lawsuit – ATRA

The filed complaint alleges that Atara Biotherapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) certain manufacturing issues, as well as deficiencies inherent in the ALLELE study, made it unlikely that the FDA would approve the tabelecleucel BLA; (ii) accordingly, tabelecleucel’s regulatory prospects were overstated; (iii) the aforementioned manufacturing issues also subjected Atara to a heightened risk of regulatory scrutiny, as well as jeopardized its ongoing clinical trials; (iv) all the foregoing was likely to have a significant negative impact on Atara’s business and financial condition; and (v) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.