Lowey Dannenberg, P.C. is Investigating Summit Therapeutics Inc. (NASDAQ: SMMT) for Potential Breaches of Fiduciary Duty

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.