Atara Faces Investor Class Action Over FDA Rejections of EBVALLO

Overview

• The case has been filed in the U.S. District Court for the Central District of California, docketed as 26-cv-03083, and names Atara and certain officers as defendants.
• It covers investors who bought Atara shares from May 20, 2024 to January 9, 2026, and the court will consider motions to lead the case from investors by May 22, 2026.
• The complaint says Atara hid manufacturing problems and flaws in the ALLELE single-arm study that made FDA approval of the tabelecleucel Biologics License Application unlikely.
• The FDA sent a rejection letter on January 16, 2025 after finding issues at a third-party plant, put Atara’s trials on hold on January 21, 2025 for unresolved good manufacturing practice problems, and issued a second rejection on January 12, 2026 that called the study confounded, which drove a roughly 57% stock drop.
• Law firms Pomerantz, Faruqi & Faruqi, and the Law Offices of Howard G. Smith are recruiting investors, as the suit argues these setbacks hurt Atara’s finances and could strain milestone funding tied to partner Pierre Fabre.