The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Allakos Inc. (ALLK) Investors
LOS ANGELES--(BUSINESS WIRE)--Jan 7, 2020--
The Law Offices of Frank R. Cruz announces an investigation on behalf of Allakos Inc. (“Allakos” or the “Company”) (NASDAQ: ALLK ) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 18, 2019, Seligman Research published a report alleging that the Company, among other issues, “buried the results for the two AK001 studies it conducted,” has “a checkered history of conducting small, low-credibility trials, marked by ... discrepancies, omissions, cherry-picking, and other red flags,” and engaged in “[f]lagrant nepotism in key clinical roles.”
On this news, the Company’s stock price fell $13.25, or nearly 10%, to close at $119.28 per share on December 18, 2019, thereby injuring investors.
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If you purchased Allakos securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067, at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200107006132/en/
CONTACT: The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: The Law Offices of Frank R. Cruz
Copyright Business Wire 2020.
PUB: 01/07/2020 06:58 PM/DISC: 01/07/2020 06:58 PM