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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

LAWSUIT FILED: Block & Leviton LLP Has Filed a Lawsuit Against Athira Pharma, Inc. for ...

June 26, 2021 GMT

BOSTON, June 25, 2021 (GLOBE NEWSWIRE) -- Block & Leviton LLP ( www.blockleviton.com ), a national securities litigation firm, announces that it has filed a class action lawsuit on behalf of shareholders against Athira Pharma, Inc. (NASDAQ: ATHA) and certain of its executives for securities fraud. Investors who purchased Athira shares between September 18, 2020 and June 17, 2021 and who lost money are strongly encouraged to contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or to visit our website for information on the case.

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The deadline to seek appointment as lead plaintiff is August 24, 2021.

On June 17, 2021, after the markets closed, Athira announced that the company’s board had placed its president and CEO, Leen Kawas, on temporary leave pending their investigation of “actions stemming from doctoral research Dr. Kawas conducted while at Washington State University.” According to one investment analyst, the scientific basis for Athira came out of the work Kawas and her colleagues developed at Washington State and this news could have “clear negative implications for how we/investors view the asset, and/or management credibility.” Healthcare news outlets also cited concerns that images in academic articles published by Kawas could have been manipulated. On this news, Athira’s stock price fell $7.09 per share, or nearly 39%, to close at $11.15 per share on June 18, 2021, on unusually heavy trading volume.

The lawsuit was filed in the U.S. District Court for the Western District of Washington and captioned Wang v. Athira Pharma, Inc, No. 2:21-cv-00861 (W.D. Wash.). The class period is between September 18, 2020 and June 17, 2021, inclusive. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

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If you purchased or acquired Athira shares between September 18, 2020 and June 17, 2021 and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or visit our website. The deadline to seek appointment as lead plaintiff is August 24, 2021.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com  
SOURCE: Block & Leviton LLP
www.blockleviton.com