LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) consisting of persons and entities that acquired Akari Therapeutics, Plc (“Akari” or the “Company”) (NASDAQ: AKTX) securities between March 30, 2017, and May 11, 2017, inclusive (the “Class Period”).
If you are a member of the Class described above, you may move the Court no later than sixty days from the date of this notice, to serve as lead plaintiff. Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at email@example.com to discuss this matter.
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 shares of Akari during the Class Period you may move the Court no later than sixty days from the date of this notice to ask the Court to appoint you as lead plaintiff in this class action lawsuit. 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 action lawsuit. 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 Lesley Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.