Wolf Haldenstein Adler Freeman & Herz and Levi & Korsinsky filed a stockholder derivative suit Monday in California Southern District Court against Sorrento Therapeutics and members of its board. The complaint arises from the company's development of STI-1499, intended as an antibody for COVID-19. The defendants are accused of misrepresenting STI-1499 as a viable cure while it was in the early stages of pre-clinical trials. Counsel have not yet appeared for the defendants. The case is 3:21-cv-01331, Chaudhari v. Ji et al.
Biotech & Pharmaceuticals
July 26, 2021, 3:14 PM