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Investigation announced for Long-Term Investors in Allakos Inc. (NASDAQ: ALLK)

06-09-2020 05:01 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Allakos Inc. (NASDAQ: ALLK) shares.

An investigation on behalf of current long term investors in Allakos Inc. (NASDAQ: ALLK) shares.

An investigation was announced. for long-term investors in shares of Allakos Inc. (NASDAQ: ALLK) concerning potential breaches of fiduciary duties by certain directors and officers of Allakos Inc.

Investors who are current long term investors in Allakos Inc. (NASDAQ: ALLK) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: ALLK stocks follows a lawsuit filed against Allakos Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: ALLK stocks, concerns whether certain d directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that the Company’s ENIGMA Trial for its flagship drug, AK002, was poorly designed, that Allakos cherrypicked timeframes and to engineer results for the ENIGMA trial, that Allakos used superficial endpoints in the ENIGMA Trial relative to FDA guidance, that Allakos misrepresented the number of adverse incidents that occurred during the ENIGMA Trial, that the ENIGMA Trial was not well-controlled, that Allakos failed to report key data from the ENIGMA Trial, and that as a result, defendants’ statements about Allakos’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Allakos Inc. (NASDAQ: ALLK) have certain options and should contact the Shareholders Foundation.

Media Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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