Notice of Lead Plaintiff Deadline for Shareholders in the Frequency Therapeutics, Inc. Class Action Lawsuit

SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that a class action lawsuit has been filed in the Massachusetts county between November 16, 2020 and March 22, 2021 on behalf of the buyers of Frequency Therapeutics, Inc. (NASDAQ: FREQ) common stock, including (the “Class Period”). The case is entitled Evans v. Frequency Therapeutics, Inc., No. 21-cv-10933, and is assigned to Judge William G. Young. Frequency Therapeutics’ class action lawsuit accuses Frequency Therapeutics and Chief Executive Officer and President David L. Lucchino of violating the Securities Exchange Act of 1934.

The Private Securities Litigation Reform Act of 1995 allows any investor who has acquired Frequency Therapeutics common stock during the class action period to seek appointment as the lead plaintiff in Frequency Therapeutics’ class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all the other group members in directing the Frequency Therapeutics class action. The lead plaintiff can select a law firm of their choice to bring the Frequency Therapeutics class action lawsuit. An investor’s ability to participate in a possible future collection of Frequency Therapeutics’ class action lawsuits does not depend on whether they are the lead plaintiff. If you would like to stand as the lead plaintiff in the Frequency Therapeutics class action or have any questions about your rights in relation to the Frequency Therapeutics class action, please include your information here or contact attorney JC Sanchez of Robbins Geller at 800 / 449- 4900 or 619 / 231-1058 or by email to [email protected] Lead plaintiffs for Frequency Therapeutics’ class action lawsuit must be filed in court no later than August 2, 2021.

Frequency Therapeutics is a pharmaceutical company developing a hearing loss treatment called “FX-322,” which Frequency Therapeutics has promoted as a potential treatment for patients with severe inner ear hearing loss (“SNHL”). Frequency Therapeutics has conducted several clinical studies evaluating the safety and effectiveness of FX-322, the most significant of which was a Phase 2a study that began in October 2019.

The Frequency Therapeutics class action lawsuit alleges that Frequency Therapeutics and CEO David L. Lucchino learned shortly after the Phase 2a trial began that the Phase 2a trial results showed no discernible difference between FX-322 and the placebo . Frequency Therapeutics ‘class action lawsuit alleges that Frequency Therapeutics’ stock price remained artificially inflated, but Defendant Lucchino sold over 350,000 Frequency Therapeutics shares for over $ 10.5 million in proceeds.

Then, on March 23, 2021, Frequency Therapeutics released deeply disappointing Phase 2a interim results, revealing that patients with mild to moderate SNHL showed no improvements in hearing measurements compared to placebo. Because of this news, Frequency Therapeutics’ stock price fell nearly 78%, which harmed investors.

With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp Sec. Litigation. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller in first place for getting $ 1.6 billion back for investors last year, more than double the amount recovered from any other securities plaintiff firm . More information is available at http://www.rgrdlaw.com.

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