NEW YORK, December 24, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in SQZ Biotechnologies Company (“SQZ” or the “Company”) SQZ. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether SQZ and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On or about October 29, 2022, SQZ completed its initial public offering (“IPO”), selling 4,411,765 shares at a price of $16.00 per share. Then, on December 1, 2022, SQZ issued a press release announc[ing] that Armon Sharei, PhD, Chief Executive Officer of SQZ Biotechnologies, will step down from his role as CEO and Board member, effective immediately” and that the company will reduce its workforce by approximately 60% while it is “on hiatus”.[s] its APC, Activating Antigen Carrier (AAC) and Tolerizing Antigen Carrier (TAC) programs.” Following the news, SQZ’s stock price fell sharply during intraday trade on December 1, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980