An investigation for investors in Allakos Inc. (NASDAQ: ALLK) shares over potential securities laws violations by Allakos Inc. was announced.
San Diego, CA -- (SBWIRE) -- 02/07/2020 -- Allakos Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Allakos Inc. (NASDAQ: ALLK), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Allakos Inc. (NASDAQ: ALLK) concerning whether a series of statements by Allakos Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Redwood City, CA based Allakos Inc., a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases.
On December 18, 2019, a report was published describing Allakos Inc. as "A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud." The report included 22 warning signs and issues, including Allakos Inc.: having "buried the results for the two AK001 studies it conducted, but our research indicates a debacle[;]" having "a checkered history of conducting small, low-credibility trials, marked by . . . discrepancies, omissions, cherry-picking, and other red flags[;]" and engaging in "[f]lagrant nepotism in key clinical roles[.]"
Shares of Allakos Inc. (NASDAQ: ALLK) declined from $132.79 per share on December 17, 2019, to as low $69.49 per share on January 27, 2020.
Those who purchased shares of Allakos Inc. (NASDAQ: ALLK) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , 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, investigation, and/or settlements are not filed/reached and/or 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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