NEW YORK, June 22, 2024 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action lawsuit on behalf of all purchasers of common stock of Akero Therapeutics, Inc. (NASDAQ: AKRO) between September 13, 2022 and October 9, 2023. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by June 25, 2024.
To join the Akero class action, go to https://rosenlegal.com/submit-form/?case_id=24557 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected].
The Rosen Law Firm is investigating the Allegations that Akero Therapeutics, Inc. (NASDAQ: AKRO) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) approximately 20% of the patients enrolled in the SYMMETRY study, a trial that purportedly tested its lead product candidate, efruxifermin (“EFX”) in patients with Non-alcoholic Steatohepatitis (“NASH”) induced cirrhosis, had cryptogenic cirrhosis and did not have definitive NASH at baseline; (2) the cryptogenic cirrhotic patients included in the SYMMETRY study did not have biopsy-proven compensated cirrhosis due to definitive NASH; (3) the results from the cryptogenic cirrhosis patients were to be excluded from the calculation of the NASH resolution secondary endpoints; (4) Akero had introduced a confounding factor into the SYMMETRY study’s design, materially influencing the study’s potential results and increasing the risks that the study would fail to meet its primary endpoint; (5) the SYMMETRY study did not align with U.S. Food & Drug Administration guidance for testing a drug in treating NASH cirrhotics because Akero had not ruled out potential causes of each patient’s cirrhosis other than NASH; and (6) consequently, Akero had materially misrepresented the nature of the SYMMETRY trial, its usefulness in supporting any new drug application, the likelihood that the SYMMETRY trial would be successful as measured by its primary endpoint, and the likelihood EFX would become a commercial treatment for NASH cirrhotics. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Akero Therapeutics, Inc. The deadline to file a motion to be appointed as lead plaintiff is June 25, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, go to https://rosenlegal.com/case/akero-therapeutics-inc/
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
SOURCE THE ROSEN LAW FIRM, P. A.
