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We are currently pursuing claims in two lawsuits that we filed in 2022 against Shoreline Biosciences, Inc.
−Removed: (Shoreline) and certain of its founders and officers (collectively referred to as the Shoreline litigations).
−Removed: The first suit is pending in San Diego Superior Court against Shoreline and three of its founders, Drs.
+Added: (Shoreline) and certain of its founders and officers (collectively, the Shoreline litigations).
+Added: The first suit, filed on May 13, 2022, is pending in San Diego Superior Court against Shoreline and four of its founders, Drs.
Kaufman (Kaufman), Kleanthis G.
−Removed: Xanthopoulos, and Steven Holtzman.
−Removed: Our claims stem from Kaufman’s founding of and participation in Shoreline’s business, in breach of his exclusivity obligations to us as our scientific advisor pursuant to a Scientific Advisor Agreement between Kaufman and the Company.
+Added: Xanthopoulos, Steven Holtzman, and William Sandborn.
+Added: Our claims stem from Kaufman’s founding of and participation in Shoreline’s business, in breach of his exclusivity obligations to us as our scientific advisor pursuant to a Scientific Advisor Agreement between Kaufman and the Company.
Our claims include actions for breach of contract, breach of implied covenant of good faith and fair dealing, fraud and deceit, tortious interference, restitution and unfair competition.
−Removed: We are seeking monetary damages.
−Removed: In the second of the Shoreline litigations, we and Whitehead Institute for Biomedical Research (Whitehead) filed a lawsuit in the U.S.
−Removed: District Court for the Southern District of California against Shoreline and Kaufman seeking damages for the defendants’
−Removed: infringement of U.S.
+Added: Fact and expert discovery is ongoing, and we are seeking monetary damages.
+Added: Trial is presently scheduled to begin on July 19, 2024.
+Added: In the second of the Shoreline litigations, also filed on May 13, 2022, we and Whitehead Institute for Biomedical Research (Whitehead) filed a lawsuit in the U.S.
+Added: District Court for the Southern District of California against Shoreline and Kaufman seeking monetary damages for the defendants’ infringement of U.S.
8,071,369, 8,932,856, 8,951,797, 8,940,536, 9,169,490, 10,457,917, and 10,017,744 (the Whitehead Patents).
−Removed: The Whitehead Patents, which we exclusively license from Whitehead, relate to key compositions and methods for reprogramming human somatic cells to a pluripotent state in the generation of induced pluripotent stem cells (iPSCs).
−Removed: Shoreline and Kaufman have each filed answers to our complaint denying infringement and alleging invalidity of the Whitehead Patents.
−Removed: The Shoreline litigations are in the discovery stage and remain pending.
−Removed: On January 20, 2023, a purported stockholder of the Company filed a lawsuit against the Company and certain of its officers captioned Hadian v.
+Added: The Whitehead Patents, which we exclusively license from Whitehead, relate to key compositions and methods for reprogramming human somatic cells to a pluripotent state in the generation of iPSCs.
+Added: 2023, we and Whitehead filed a motion to dismiss our patent infringement claims against Kaufman in his personal capacity;
+Added: that motion was granted on June 9, 2023.
+Added: On July 14, 2023 each party filed motions for summary judgment.
+Added: On August 30, 2023, the court granted Shoreline’s motion for summary judgment and denied our motion for partial summary judgment as moot.
+Added: Judgment in favor of Shoreline was entered on August 31, 2023.
+Added: On October 16, 2023, the district court denied Shoreline’s motion for an award of costs and attorney’s fees.
+Added: On September 27, 2023, we and Whitehead filed a Notice of Appeal with the Court of Appeals for the Federal Circuit challenging the trial court’s claim construction and grant of summary judgment in favor of the defendants;
+Added: the defendants cross-appealed challenging the district court’s earlier denial of a motion to dismiss and partial motion for summary judgment on other grounds.
+Added: The Federal Circuit docketed the case on October 5, 2023.
+Added: There can be no assurance that we will prevail on any such appeal.
+Added: We filed our opening appeal brief on February 2, 2024.
+Added: On January 20, 2023, a purported stockholder of the Company filed a securities class action lawsuit against the Company and certain of its officers captioned Hadian v.
Fate Therapeutics, Inc.
+Added: District Court for the Southern District of California (the Securities Action).
+Added: On May 4, 2023, the court appointed a different purported stockholder of the Company to serve as lead plaintiff in the Securities Action.
+Added: On July 24, 2023, the lead plaintiff filed an amended complaint.
+Added: The amended complaint alleges that the Company violated the federal securities laws by making allegedly false and/or misleading statements and/or omissions in its public disclosures dating back to August 2020 relating to our collaboration agreement with Janssen Biotech, Inc.
+Added: (the Janssen Agreement), potential product candidates subject to the Janssen Agreement, and the termination of the Janssen Agreement.
+Added: On September 22, 2023, we filed a motion to dismiss the amended complaint in its entirety.
+Added: Briefing on our motion to dismiss was completed on December 6, 2023.
+Added: The court may, in its discretion, either hold oral argument on the motion to dismiss or issue a ruling on the motion based upon the parties’ briefing.
+Added: We intend to continue to vigorously defend against this action.
+Added: On June 2, 2023, a derivative complaint, captioned Guarino v.
+Added: Wolchko, et al., was filed by a purported stockholder of the Company in the U.S.
District Court for the Southern District of California.
−Removed: The complaint alleges that the Company violated the federal securities laws by making allegedly false and/or misleading statements and/or omissions in its public disclosures dating back to April 2020 relating to the Company’s collaboration agreement with Janssen Biotech, Inc.
−Removed: (the Janssen Agreement), potential future revenue sources for the Company from the Janssen Agreement, and the termination of the Janssen Agreement.
−Removed: We believe that there is no merit to this case and we intend to vigorously defend against it.
+Added: The derivative lawsuit names members of our board of directors and certain officers as defendants.
+Added: The Company is named as a nominal defendant.
+Added: The plaintiff asserts derivative claims arising out of substantially the same alleged facts and circumstances as the Securities Action.
+Added: The complaint asserts claims for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets, and violation of federal securities laws.
+Added: On August 14, 2023, the court stayed the derivative lawsuit pending the court’s decision on our motion to dismiss in the Securities Action filed September 22, 2023.
+Added: We intend to vigorously defend against this action.
From time to time, we may be subject to various other legal proceedings and claims that arise in the ordinary course of our business activities.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.