LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Allakos Inc. (“Allakos” or “the Company”) (NASDAQ: ALLK) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Seligman Investments published a report on December 18, 2019, describing Allakos as “A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud.” The report detailed 22 distinct 22 warning signs and signals, including the company having “buried the results for the two AK001 studies it conducted, but our research indicates a debacle,” a “checkered history of conducting small, low-credibility trials, marked by . . . discrepancies, omissions, cherry-picking, and other red flags,” and engaging in “fragrant nepotism in key clinical roles.” Based on this report, shares of Allakos fell by nearly 10% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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