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Akari Therapeutics, Plc

Period: Mar 30, 2017 to May 11, 2017

Lead Plaintiff Deadline: Jul 11, 2017

Summary of Case:

A securities class action has been filed against Akari Therapeutics, Plc (“Akari” or the “Company”) (NASDAQ:AKTX) on behalf of a class (the “Class”) consisting of persons and entities that acquired Akari securities between March 30, 2017 through May 11, 2017.  This case has been filed in the USDC - Southern District of New York.

 

On May 11, 2017, the Company announced that its CEO, Dr. Gur Roshwalb, was placed on administrative leave while the Akari Board of Directors investigates whether Dr. Roshwalb had any involvement with a research report that contained material inaccuracies. On this news, the Company’s share price fell more than 20% during intraday trading on May 12, 2017.

The complaint filed in this class action lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company’s CEO, and possibly other executives, were involved in publishing false information about the Company, including false information about the Phase 2 PNH trial of Coversin; (2) that the Company lacked adequate checks and protections to prevent such behavior; and (3) that, as a result of the foregoing, Defendants’ statements about Akari’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.

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