Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of all purchasers of securities of Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) between February 5, 2021 and May 14, 2024. Bolt describes itself as a “clinical-stage biopharmaceutical company, [that] engages in the development of immunotherapies for the treatment of cancer.”
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The Allegations: Rosen Law Firm is Investigating the Allegations that Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) BDC-1001, Bolt’s immune-stimulating antibody conjugate (“ISAC”) designed to target a tumor antigen known as human epidermal growth factor receptor 2 (“HER2”) that is often found in cancers such as breast and gastroesophageal cancer, was less effective than Bolt had represented to investors and was in fact unlikely to meet its pre-defined success criteria; (2) accordingly, defendants overstated the clinical and/or commercial prospects of Bolt’s product pipeline, on which Bolt primarily relies to sustain its business model; (3) all of the foregoing subjected Bolt to a heightened risk of disruptive leadership transitions and substantial workforce reduction; and (4) as a result, Bolt’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Bolt Biotherapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 3, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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