San Diego, CA -- (SBWIRE) -- 11/02/2020 -- An investor, who purchased shares of Innate Pharma S.A. (NASDAQ: IPHA), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Innate Pharma S.A.

Investors who purchased shares of Innate Pharma S.A. (NASDAQ: IPHA) have certain options and for certain investors are short and strict deadlines running. Deadline: December 22, 2020. NASDAQ: IPHA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On October 23, 2018, Innate Pharma S.A announced its long-term strategic partnership with AstraZeneca, which in part would include a payment to Innate Pharma S.A of $100 million in milestone payments at the start of the first Phase 3 clinical trial for monalizumab. Throughout 2019 and early 2020, Innate Pharma S.A touted the $100 million payment as a done-deal. Innate Pharma S.A additionally touted the results of the monalizumab tests as being on track.

However, on September 8, 2020, Innate Pharma S.A suddenly and without prior notice announced a change to the $100 million deal. Instead of a one-time payment of $100 million at the start of the first Phase 3 clinical trial, Innate Pharma S.A would receive $50 million at the start, and an additional $50 million after the interim analysis demonstrated a pre-defined threshold of clinical activity.

The plaintiff claims that between March 10, 2020 and September 8, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Innate Pharma S.A. touted the results of their various Phase 2 trials as being within expectations, that Innate Pharma S.A. continued to reassure investors that they were eligible for the $100 million payment upon first dosing of Phase 3 trials, that Innate Pharma S.A. failed to timely disclose their renegotiations with AstraZeneca to split the $100 million payment into two $50 million payments, to be partially contingent on performance during the Phase 3 trials, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Innate Pharma S.A. (NASDAQ: IPHA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.