Allakos Inc. (ALLK)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Allakos Inc. (ALLK)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Allakos Inc. (“Allakos” or the “Company”) (NASDAQ: ALLK). The investigation concerns whether Allakos and certain of its officers and/or directors have violated federal securities laws.
On December 18, 2019, Seligman Research (“Seligman”) published a report characterizing Allakos as “A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud.” Among a litany of other issues, the Seligman report accused Allakos of 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 a striking level of what we consider to be discrepancies, omissions, cherry-picking, and other red flags”; and engaging in “[f]lagrant nepotism in key clinical roles”. On this news, Allakos’s stock price fell $13.25 per share, or 10%, to close at $119.28 on December 18, 2019.
If you are aware of any facts relating to this investigation, or purchased Allakos shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.