Humacyte (HUMA) Faces Class Action Lawsuit After FDA Inspection Reveals Manufacturing Issues- Hagens Berman

San Francisco, California--(Newsfile Corp. - December 3, 2024) - Humacyte, Inc. (NASDAQ: HUMA) and certain of its executives are now defendants in a class action lawsuit filed in the U.S. District Court for the Middle District of North Carolina. The suit, Cutshall v. Humacyte, Inc., et al., alleges that the company misled investors about the status of its Biologic License Application (BLA) for its acellular tissue engineered vessel (ATEV) and the regulatory compliance of its manufacturing facilities.

Hagens Berman urges investors in Humacyte who suffered substantial losses to submit your losses now.

Class Period: May 10, 2024 - Oct. 17, 2024
Lead Plaintiff Deadline: Jan. 17, 2025
Visit: www.hbsslaw.com/investor-fraud/huma
Contact the Firm Now: [email protected]
844-916-0895

Humacyte, Inc. (HUMA) Securities Class Action:

The complaint, filed on behalf of investors who purchased Humacyte securities between May 10, 2024, and October 17, 2024, claims that the company and its executives failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, the lawsuit alleges that Humacyte's Durham, North Carolina facility had significant manufacturing compliance issues, including deficiencies in quality assurance and microbial testing.

The truth emerged after the FDA's subsequent inspection of the facility and the delayed review of the BLA came to light, which led to a significant decline in Humacyte's stock price. Specifically, on August 9, 2024, the company announced that the FDA would require additional time to complete its review of the BLA. Then, on October 17, 2024, the FDA issued a Form 483 detailing multiple violations at the Durham facility.

"The allegations in the complaint highlight serious violations of securities laws. If proven true, Humacyte's alleged failure to disclose material information to investors is unacceptable," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in Humacyte or have knowledge that may assist the firm's investigation, submit your losses now »

If you'd like more information and answers to frequently asked questions about the Humacyte case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Humacyte should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232419