LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 11, 2017 deadline to file a lead plaintiff motion in the class action 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”). To obtain information or participate in the class action, please visit the Akari Therapeutics page on our website at http://www.glancylaw.com/case/akari-therapeutics-plc.
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.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Akari during the Class Period you may move the Court no later than July 11, 2017, to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.