Akari Therapeutics, Plc
| Company Name | Akari Therapeutics, Plc |
| Stock Symbol | AKTX |
| Class Period | March 30, 2017 to February 05, 2017 |
| Court | United States District Court for the Southern DistUnited States District Court for the Southern District of New York |
| Status | 1 |
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.
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