Investigation
Kewaunee Scientific Corporation (KEQU)
Whether directors and officers of Kewaunee Scientific Corporation (KEQU) breached their fiduciary duties to the company and its shareholders.
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Investigation
11/09/2021
Initial Lawsuit
01/31/2022
Lawsuit Progression
04/01/2022
Plaintiff brings this securities class-action lawsuit on behalf of persons or entities who purchased or otherwise acquired publicly traded Shattuck securities: (1) pursuant and/or traceable to the registration statement and related prospectus issued in connection with Shattuck’s October 2020 initial public offering; and/or (2) between October 9, 2020 and November 9, 2021, inclusive.
According to the complaint, 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, defendants allegedly failed to disclose to investors that:
(1) the August 8, 2017 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.
Whether directors and officers of Kewaunee Scientific Corporation (KEQU) breached their fiduciary duties to the company and its shareholders.
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