NEW ORLEANS, March 12, 2024 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 9, 2024 to file lead plaintiff applications in a securities class action lawsuit against Amylyx Pharmaceuticals, Inc. (NasdaqGS: AMLX), if they purchased the Company’s securities between November 11, 2022 and November 8, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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Amylyx investors should visit us at https://claimsfiler.com/cases/nasdaq-amlx/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Amylyx and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had overstated the commercial prospects of its product, RELYVRIO, a treatment used for ALS; (ii) patients were discontinuing RELYVRIO treatment after six months; (iii) the rate at which new patients were starting treatment with RELYVRIO was decreasing; (iv) the Company had also overstated RELYVRIO's prescription rate; (v) the Company attempted to hide the foregoing negative trends from investors and the market by blocking analysts from viewing its prescription data; and (vi) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
The case is Shih v. Amylyx Pharmaceuticals, Inc., et al., No. 24-cv-00988.
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