BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Akari Therapeutics, Plc (“Akari” or the “Company”) (NASDAQ: AKTX) securities between March 30, 2017, and May 11, 2017, inclusive (the “Class Period”). Akari investors have until July 11, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Akari investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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% 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 shares of Akari during the Class Period you may move the Court no later than July 11, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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