A securities class action has been filed against Altimmune, Inc. (ALT) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Altimmune securities between December 1, 2023 through April 26, 2024. This case has been filed in the USDC – MA.
According to the lawsuit, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Altimmune overstated the potential for pemvidutide to stand out from competing GLP-1 agonists based on the drug’s efficacy and tolerability results observed in the MOMENTUM Trial; (ii) accordingly, the MOMENTUM Trial results were less significant to pemvidutide’s clinical, commercial, and competitive prospects than Defendants had led investors to believe; (iii) as a result of all the foregoing, Defendants had overstated Altimmune’s prospects for finding a strategic partner to develop pemvidutide; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
.