NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Allakos, Inc. (NASDAQ: ALLK) on behalf of Allakos stockholders. Our investigation concerns whether Allakos has violated the federal securities laws and/or engaged in other unlawful business practices.
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On December 18, 2019, Seligman Research published a report characterizing Allakos as “A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud.” Among a litany of other issues, the report accused Allakos of having “buried the results for the two AK001 studies it conducted, but our research indicates a debacle”; having “a checkered history of conducting small, low-credibility trials, marked by a striking level of what we consider to be discrepancies, omissions, cherry-picking, and other red flags”; and engaging in “[f]lagrant nepotism in key clinical roles”.
On this news, Allakos’s stock price fell $13.25 per share, or 10%, to close at $119.28 on December 18, 2019.
If you purchased or otherwise acquired Allakos shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.