Frequency Therapeutics Defeats Investor Suit Over Clinical Trial

A Frequency Therapeutics Inc. investor failed “to articulate a cohesive theory of fraud” in his allegations that the regenerative medicine company misrepresented the progress of a hearing-loss drug, a federal court ruled.

Lead plaintiff Julian Quinones alleged that news of a clinical trial’s “disastrous” results in March 2021 caused the company’s stock price to drop 78%. He challenged 14 statements by Frequency and two executives during a period leading up to the release of the information.

But he failed to establish that 12 of the statements were false and misleading, Judge William G. Young said Wednesday for the US District ...