LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Innate Pharma S.A. (“Innate” or “the Company”) (NASDAQ: IPHA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between March 10, 2020 and September 8, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before December 22, 2020.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Innate touted the results of its Phase 2 trials as meeting their expectations. The Company continued to promise investors that its results would make it eligible for a $100 million payment upon beginning a Phase 3 trial. The Company failed to provide timely disclosure to the market regarding the renegotiation of its agreement with AstraZeneca for the $100 million payment, which would split the total amount into two $50 million payments contingent on performance. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Innate, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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