ATHA DEADLINE: Investors With Substantial Losses Have Opportunity to Lead the Athira Pharma, Inc. Class Action Lawsuit
SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that buyers of Athira Pharma, Inc. (NASDAQ: ATHA) securities will be available to buyers between September 18, 2020 and June 17, 2021, inclusive (the “Class Period”) through August 24, 2021 pending appointment as lead plaintiff in Athira Pharma’s class action lawsuit. Athira Pharma class lawsuit charges Athira Pharma and its CEO for violating the Securities Exchange Act of 1934. Athira Pharma (Wang v. Athira Pharma, Inc., No. 21-cv-00861) class action lawsuit was initiated on June 25, 2021 in the Western District of Washington and is assigned to Judge Thomas S. Zilly. Two similar lawsuits – Jawandha v Athira Pharma, Inc., No. 21-cv-00862, and Slyne v Athira Pharma, Inc., No. 21-cv-00864 – are also pending in the Western District of Washington.
If you have suffered significant losses and wish to be the lead plaintiff in Athira Pharma’s class action, please provide your information by clicking here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at email@example.com. Lead plaintiffs’ motions for Athira Pharma’s class action lawsuit must be filed with the court by August 24, 2021 at the latest.
CASE ALLEGATION: Athira Pharma’s class action alleges that, during the class action period, Defendants made false and misleading statements and failed to disclose: (i) the investigations conducted by Athira Pharma’s President and Chief Executive Officer, Defendant Leen Kawas, the basis for Athira Pharma’s product candidates and intellectual property corrupted by Kawass’s scientific misconduct, including the manipulation of key data; and (ii) as a result, Defendants’ positive statements about the business, operations and prospects of Athira Pharma have been materially misleading and essential facts have been omitted that are necessary in order not to render the statements made misleading.
On June 17, 2021, Athira Pharma issued a press release announcing that Athira Pharma’s board of directors has placed Kawas on a temporary leave pending a review of measures based on doctoral theses Kawas was doing while at Washington State University is done. An article published later that day in STAT News revealed that Kawas’ investigation was tied to allegations that she altered images in four separate articles related to her research on hepatocyte growth factor (HGF), a protein with the potential to treat Alzheimer’s disease and other neurological disorders. The article noted that although Athira Pharma “has since moved to a different molecule than the one Kawas was working on, it is still aimed at targeting HGF. And so with his PhD thesis, Kawas laid the biological foundations that Athira continues to use in her approach to treating Alzheimer’s. ”As a result of this news, Athira Pharma’s share price fell almost 39%, which harmed investors.
LEAD ACTION: The Private Securities Litigation Reform Act of 1995 allows any investor who has purchased Athira Pharma securities during the class action period to seek appointment as the lead plaintiff in Athira Pharma’s class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. One lead plaintiff is acting on behalf of all of the other class plaintiffs in directing Athira Pharma’s class action. The lead plaintiff can select a law firm of their choice to bring Athira Pharma’s class action lawsuit. An investor’s ability to participate in a possible future collection of Athira Pharma’s class action lawsuit does not depend on whether they are the lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for getting $ 1.6 billion back for investors last year, more than double the amount paid by any other securities plaintiff firm was drafted. Please visit https://www.rgrdlaw.com/firm.html for more information.
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