Shattuck Labs, Inc. purports to be a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of cancer and autoimmune disease.

On or about October 9, 2020, Defendants held an IPO, issuing approximately 13,664,704 shares to the investing public at $17.00 per share, pursuant to the Registration Statement. The Registration Statement emphasized the importance of Shattuck’s August 8, 2017 collaboration agreement with Millennium Pharmaceuticals, Inc., or Takeda, a wholly owned subsidiary of Takeda Pharmaceutical Company, Ltd.

The underlying securities fraud class action Complaint alleges that the materials supporting the IPO and beyond made false and/or misleading statements and/or failed to disclose that: (1) the Collaboration Agreement with Takeda was not solid; (2) Takeda and Shattuck would “mutually agree” to terminate the Collaboration Agreement in essentially one year; (3) as a result, Shattuck would cease to receive any future milestone, royalty, or other payments from Takeda; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On November 9, 2022, the parties notified the Court that they had reached a settlement in principle to resolve all claims in the action. The parties entered into a Stipulation of Settlement on December 13.

On June 16, 2023, the settlement was preliminarily approved.

Current Shattuck shareholders who have held Shattuck stock since on or before February 17, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.

If you would like to learn more about this matter, you are encouraged to contact us at [email protected], or call 267-507-6085.