Spring Bank Pharmaceuticals, Inc. Securities Litigation
On or around 11/10/2020 (Notice of voluntarily dismissal)
Filing Date: September 08, 2020
According to the Complaint, Spring Bank Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of a novel class of therapeutics using its proprietary small molecule nucleotide platform.
On June 29, 2020, Spring Bank Pharmaceuticals, Inc.’s Board of Directors caused Spring Bank to enter into a share exchange agreement with F-star Therapeutics Limited. Pursuant to the terms of the Agreement, among other things, Spring Bank will acquire: (i) the issued capital of F-star; and (ii) each ordinary share of F-star in exchange for shares of Spring Bank common stock. Upon the closing of the Proposed Transaction, holders of F-star are expected to own approximately 61.2% of the outstanding capital stock of Spring Bank.
On August 28, 2020, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission, which recommends that Spring Bank’s stockholders vote to approve, among other things, the issuance of stock in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
This case was voluntarily dismissed on November 10, 2020.
Company & Securities Information
Defendant: Spring Bank Pharmaceuticals, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: SBPH
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Adam Franchi, et al. v. Spring Bank Pharmaceuticals, Inc., et al.
COURT: D. Delaware
DOCKET #: 20-CV-01198
JUDGE: Hon. Leonard P. Stark
DATE FILED: 09/08/2020
CLASS PERIOD START: 07/29/2020
CLASS PERIOD END: 09/08/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rigrodsky & Long, P.A. (Wilmington)
RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available