Item 3. Legal Proceedings
Item 3. Legal Proceedings.
From time to time, we may be subject to various legal proceedings and claims that arise in the ordinary course of our business activities. The outcome of any such proceedings or claims, irrespective of the merits, is inherently uncertain. Regardless of the outcome, litigation can have a material adverse effect on us due to defense and settlement costs, diversion of management resources, and other factors.
On February 10, 2023, a putative class action lawsuit was filed in the U.S. District Court for the Northern District of California against our company and certain of our officers and current and former members of our board of directors ( Greenhalgh v. Caribou Biosciences, Inc., et al. , Case Number 3:23-cv-00609-VC). The complaint challenges disclosures regarding our company’s business, operations, and prospects, specifically with respect to the alleged durability of CB-010’s therapeutic effect and the product candidate’s clinical and commercial prospects, in alleged violation of Sections 11 and 15 of the Securities Act and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended. The complaint seeks an unspecified amount of damages on behalf of a putative class of purchasers of our company’s securities during the class period of July 23, 2021, through December 9, 2022, as well as interest and reasonable fees and costs. We believe that this lawsuit is without merit and intend to vigorously defend against it.
Item 4. Mine Safety Disclosures.
Not applicable.
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Table of Conte n t s
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.