SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP announces that the ACELYRIN class action lawsuit seeks to represent purchasers or acquirers of ACELYRIN, Inc. (NASDAQ: SLRN) securities between May 4, 2023 and September 11, 2023 (the “Class Period”). Captioned Aramouni v. ACELYRIN, Inc., No. 23-cv-09672 (C.D. Cal.), the ACELYRIN class action lawsuit charges ACELYRIN and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the ACELYRIN class action lawsuit, please provide your information here:
CASE ALLEGATIONS: ACELYRIN is a clinical biopharma company that focuses on developing and commercializing transformative medicines. According to the ACELYRIN class action lawsuit, ACELYRIN’s lead product candidate is izokibep, which is currently in Part B of a Phase 2b/3 clinical trial for use in the treatment of moderate to severe Hidradenitis Suppurativa (“HS”).
The ACELYRIN class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) izokibep was less effective in treating HS than defendants had led investors to believe; (ii) accordingly, ACELYRIN overstated izokibep’s clinical and/or commercial prospects; and (iii) as a result, ACELYRIN also overstated its business prospects post-initial public offering.
The ACELYRIN class action lawsuit further alleges that on September 11, 2023, ACELYRIN announced disappointing top-line results from Part B of the Phase 2b/3 trial evaluating izokibep for the treatment of moderate-to-severe HS. Specifically, izokibep failed to show statistically significant reduction in abscesses and inflammatory nodules in patients as compared to placebo, the complaint alleges. The ACELYRIN class action lawsuit alleges that on this news, the price of ACELYRIN stock fell more than 61% over two trading sessions.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired ACELYRIN securities during the Class Period to seek appointment as lead plaintiff of the ACELYRIN class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the ACELYRIN class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the ACELYRIN class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the ACELYRIN class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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