Press release
Investigation announced for Investors in shares of Allakos Inc. (NASDAQ: ALLK) over potential Wrongdoing
An investigation on behalf of investors in Allakos Inc. (NASDAQ: ALLK) shares over potential wrongdoing at Allakos Inc.
Investors who purchased shares of Allakos Inc. (NASDAQ: ALLK) 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 concerns whether certain Allakos Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Carlos, CA based Allakos Inc., a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. On January 16, 2023, Allakos Inc. issued a press release "announc[ing] a restructuring to reduce costs and to focus on AK006 clinical development and additional preclinical programs." The Company stated that it "will halt lirentelimab-related activities across clinical, manufacturing, research and administrative functions" and, "[a]s a result, the Company will reduce its workforce by approximately 50%."
Shares of Allakos Inc. (NASDAQ: ALLK) declined from $3.41 per share on December 18, 2023, to as low as $1.00 per share on January 17, 2024.
Those who purchased shares of Allakos Inc. (NASDAQ: ALLK) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
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 lawsuits, 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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