| COMPANY |
Nektar Therapeutics |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
18-cv-06607 |
| JUDGE |
The Hon. Haywood Stirling Gilliam Jr. |
| CLASS PERIOD |
January 10, 2017 and September 28, 2018 |
| SECURITY TYPE |
Common Stock |
Case Background:
On October 30, 2018, 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 securities class action case was brought on behalf of those who purchased or otherwise acquired Nektar common stock between January 10, 2017 and September 28, 2018, inclusive.
The complaint alleged that throughout the class period, the defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the defendants made false and/or misleading statements and/or failed to disclose that: (i) prior studies which attempted to pegylate IL-2 failed; (ii) NKTR-214’s extended half-life was unlikely to result in efficacy and created additional high-dosing safety concerns; (iii) NKTR-214 was less effective than IL-2 alone; (iv) the combination of NKTR-214 with nivolumab has not yet demonstrated significant positive results; and (v) as a result, Nektar’s public statements as set forth above were materially false and misleading at all relevant times.
Current Status of Case:
On December 30, 2020, the Court granted Defendants’ Motion to Dismiss. On January 29, 2021, Lead Plaintiffs filed a Notice of Appeal to the Ninth Circuit Court of Appeals. On May 19, 2022, the Ninth Circuit Court of Appeals affirmed the dismissal of this action. 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.