Investigation Launched Against CARGO Therapeutics, Inc. by Pomerantz LLP
New York, NY – Feb. 25, 2025 – Pomerantz LLP, a leading securities law firm, is currently investigating potential claims on behalf of investors of CARGO Therapeutics, Inc. (“Cargo” or the “Company”) (NASDAQ: CRGX). The investigation focuses on possible violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 by the Company and certain of its top executives.
Background
Cargo Therapeutics is a clinical-stage biopharmaceutical company developing innovative gene therapies for various diseases. The Company’s lead product candidate, CARGO-101, is designed to treat patients with metastatic pancreatic cancer. In November 2024, Cargo announced positive results from a Phase 1/2 clinical trial for CARGO-101, which sent the company’s stock soaring.
Allegations
However, Pomerantz LLP alleges that the positive clinical trial results were inflated, and that the Company and its executives may have made false and misleading statements regarding the trial’s design, data, and potential efficacy. These statements were made in press releases, SEC filings, and public conference calls, leading investors to purchase Cargo stock at artificially inflated prices.
Investor Action
If you are a Cargo investor who purchased securities between [Insert Date 1] and [Insert Date 2], you may be eligible to recover your losses, or seek to hold the Company and its executives accountable. To discuss your legal rights, contact Danielle Peyton of Pomerantz LLP at [email protected] or 646-581-9980, ext. 167.
Impact on Individual Investors
For individual investors, this investigation may result in a significant financial loss as Cargo stock prices may experience a steep decline if the alleged misconduct is proven. Furthermore, investors who purchased Cargo securities during the specified timeframe may be entitled to compensation if the Company and its executives are found to have violated securities laws.
Impact on the Biotech Industry
The implications of this investigation extend beyond Cargo and its investors. If the allegations are proven true, it could potentially damage the reputation of the biotech industry as a whole, as investors may become more skeptical of clinical trial results and press releases from biopharmaceutical companies.
Conclusion
As the investigation into Cargo Therapeutics, Inc. continues, it is essential for investors to stay informed and protect their financial interests. If you believe you have been negatively affected by the Company’s alleged misconduct, contact Pomerantz LLP to discuss your potential claims and the legal options available to you. By taking action, investors can help ensure that biopharmaceutical companies operate with transparency and honesty, protecting both their investments and the integrity of the industry.
- Cargo Therapeutics, Inc. is under investigation by Pomerantz LLP for potential securities law violations.
- The investigation focuses on allegedly inflated clinical trial results and false statements made by the Company and its executives.
- Individual investors who purchased Cargo securities between [Insert Date 1] and [Insert Date 2] may be eligible for compensation.
- The investigation’s outcome could potentially damage the reputation of the biotech industry.
