Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Allakos Inc. ALLK resulting from allegations that Allakos may have issued materially misleading business information to the investing public.
On December 18, 2019, Seligman Investments ("Seligman") published a report describing Allakos as "A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud." The Seligman report included 22 warning signs and issues, including Allakos: having "buried the results for the two AK001 studies it conducted, but our research indicates a debacle[;]" having "a checkered history of conducting small, low-credibility trials, marked by . . . discrepancies, omissions, cherry-picking, and other red flags[;]" and engaging 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, injuring investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Allakos investors. If you purchased shares of Allakos please visit the firm's website at http://www.rosenlegal.com/cases-register-1753.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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