Dec. 30, 2024
Investors claim Berkeley gene editing company lied about cash flow
Investors accused Caribou Biosciences Inc. of causing a 25% stock drop by misleading about cash flow and treatment efficacy. A lawsuit claims generic risk warnings deceived investors.
A group of investors accused Caribou Biosciences Inc., a Berkeley gene editing biotechnology company, of causing its stock price to drop 25% in a single day in June by lying to the public about its cash flow and the efficacy of its disease treatments.
The putative class action complaint, filed on Dec. 24 by Jennifer Pafiti of Pomerantz LLP, claims that Caribou issued "generic catch-all" risk warnings to investors that misled the public about the company's financial h...
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