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Faruki & Faruki, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses over $75,000 in Humacite to contact him directly to discuss their options
If you have suffered losses that exceed $75,000 Humacite between May 10, 2024 and October 17, 2024 and want to discuss your legal rights, call a Faruki & Faruki partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, NY–(Newsfile Corp. – December 15, 2024) – Faruki & Faruki, LLP, a leading national securities law firm, is investigating potential claims against Humacita, Inc. (“Humacite” or the “Company”) (NASDAQ: HUMA) and reminds investors of The deadline is January 17, 2025 to seek the role of lead prosecutor in a federal securities lawsuit filed against the Company.
Faruki & Faruki is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has returned hundreds of millions of dollars for investors since its founding in 1995. See www.farukilav.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company’s plant in Durham, N.C. Carolina failed to comply with good manufacturing practices, including quality assurance and microbial testing; (2) that FDA review of the BLA will be delayed while Humacite addresses these deficiencies; and (3) that, as a result, there was a significant risk to FDA approval of ATEV for vascular trauma; and (4) that, as a result of the foregoing, the defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis.
On August 9, 2024, after the market closed, Humacite issued a press release announcing that the Food and Drug Administration (“FDA”) “will need additional time to complete its review of its Biologics Licensing Application (BLA) for acellular tissue engineered vessel (ATEV) in the indication of vascular trauma.” The press release disclosed in part that, “(d)uring the course of the BLA review, the FDA conducted inspections of our manufacturing facilities and clinical sites and actively engaged with us in multiple discussions regarding our BLA submission(.)”
On this news, the Company’s stock price fell $1.29, or 16.4%, to close at $6.62 per share on August 12, 2024, on unusually high volume.
On October 17, 2024, during market hours, the FDA released a Form 483 related to Humacite’s Durham, North Carolina facility, which disclosed a number of violations, including “no microbial quality assurance,” “no microbial testing” and inadequate “quality control .”
On this news, the Company’s stock price fell $0.95, or 16.35%, to close at $4.86 per share on October 17, 2024, on unusually high volume.
The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class that is adequate and typical of the class members who conducts and oversees the litigation on behalf of the putative class. Each member of the putative class may propose to the court to be the lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to participate in any compensation is not affected by the decision to be the lead plaintiff or not.
Faruki & Faruki, LLP also encourages anyone with information about Humacite’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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To view the original version of this press release, visit https://www.nevsfilecorp.com/release/233768
