NEW YORK, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating whether certain officers and directors of Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit” or the “Company”) breached their fiduciary duties to shareholders in connection with a $520 million loan transaction between the Company and its Executive Chairman, Robert W. Duggan.

According to an unsealed lawsuit, Duggan forced Summit into a “plainly usurious” $520 million loan that allowed Duggan and his wife, Mahkam Zanganeh, to extract approximately $114 million from the Company. An investor has filed suit challenging the transaction, alleging that Duggan and Zanganeh exploited their control over Summit to manipulate the terms and timing of a bridge loan repayable in millions of additional shares, and pegged the financing to the Company’s trading price shortly before a lucrative drug-licensing agreement with Akeso, Inc. sent Summit’s stock price higher.

“Our investigation concerns whether certain officers and directors of Summit Therapeutics engaged in self-dealing at the expense of the Company and its shareholders,” said attorney Andrea Farah, Lowey Dannenberg, P.C. partner and head of the firm’s securities practice.

Affected shareholders may be entitled to damages and corporate governance reforms as a result of this alleged misconduct, which raises serious questions about the integrity of Summit’s internal management and controls.

If you are a current Summit Therapeutics shareholder and wish to learn more about this investigation, or about your rights and options, contact our attorneys Andrea Farah (afarah@lowey.com) at (914) 733-7256 or Vincent R. Cappucci Jr. (vcappucci@lowey.com) at (914) 733-7278.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

Contact

Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com

SOURCE: Lowey Dannenberg