NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Athira Pharma, Inc. ("Athira " or "the Company") (NASDAQ: ATHA) on behalf of shareholders who purchased or otherwise acquired Athira common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company’s September 2020 initial public offering ("IPO" or the "Offering"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/atha.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The complaint alleges that the Registration Statement was materially false and misleading and omitted to state: (1) that Kawas had published research papers containing improperly altered images while she was a graduate student; (2) that this purported research was foundational to Athira’s efforts to develop treatments for Alzheimer’s because it laid the biological groundwork that Athira was using in its approach to treating Alzheimer’s; (3) that, as a result, Athira’s intellectual property and product development for the treatment of Alzheimer’s were based on invalid research; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
On or around September 18, 2021, Athira conducted its initial public offering (“IPO”), selling 12 million shares priced at $17.00 per share. Then, on June 17, 2021, Athira announced that the Company’s board had placed its President and Chief Executive Officer, Leen Kawas, on temporary leave pending an investigation of “actions stemming from doctoral research Dr. Kawas conducted while at Washington State University.” On this news, Athira’s stock price fell $7.09 per share, or 38.87%, to close at $11.15 per share on June 18, 2021.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/atha or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Home Point you have until August 24, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.