| COMPANY |
Nektar Therapeutics |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
19-cv-05173 |
| JUDGE |
The Hon. Jeffrey S. White |
| CLASS PERIOD |
February 28, 2019 - August 8, 2019 |
| SECURITY TYPE |
All Securities |
Case Background:
On August 19, 2019, the initial complaint in this securities class action was filed against Nektar Therapeutics (“Nektar” or the “Company”), and certain of Nektar’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all other persons and entities who purchased or otherwise acquired Nektar securities between February 28, 2019 and August 8, 2019, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the class period, 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, the complaint alleges Defendants failed to disclose to investors that: (1) the Company did not comply with current good manufacturing practices; (2) as a result, batches of NKTR-214 were not produced consistently and differed meaningfully; (3) clinical results from PIVOT-02 differed based on the batch of NKTR-214 used in the study; (4) as a result, the PIVOT-02 study did not produce statistically significant results to support a finding of clinical benefit; and (6) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On January 24, 2020, Lead Plaintiffs filed an amended complaint (the “Amended Complaint”). On January 26, 2021, the Court issued an Order granting Defendants’ Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.