NEW YORK, June 13, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Akero Therapeutics, Inc. (“Akero” or the “Company”) (NASDAQ: AKRO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Akero and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until June 25, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Akero securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On October 10, 2023, Akero announced the results of the Phase 2b SYMMETRY trial for the Company’s lead product candidate efruxifermin, a proposed treatment for patients with nonalcoholic steatohepatitis, disclosing that the trial had failed to meet its primary endpoint. On a subsequent call with investors to discuss the SYMMETRY trial’s results, Akero’s top officers acknowledged that patients with cryptogenic cirrhosis had been included in the study’s patient population, a fact that Akero had previously failed to disclose to investors. Analysts reacted negatively to this disclosure, with one analyst opining that “this feature of the study needlessly introduces confounding risk, and may have played a part in missing the primary endpoint[.]”
On this news, Akero’s stock price fell $30.39 per share, or 62.61%, to close at $18.15 per share on October 10, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
