NEW YORK, Dec. 08, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against ALT5 Sigma Corp (“ALT5” or the “Company”) (NASDAQ:ALTS). The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices.
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What Happened?
By August 29, 2025, just weeks after closing a $1.5 billion registered direct offering, ALT5 revealed that “on May 7, 2025, the Intermediate Court of Nyarugenge, Rwanda, rendered a judgment finding ALT5 Sigma Canada Inc., a subsidiary of the Company, and its former principal, Mr. Andre Beauchesne, criminally liable for offenses including illicit enrichment and money laundering[.]” In addition, ALT5 said that it was reviewing “potential misstatements or omissions in the financial statements of the Company and omissions of material information by certain members of management and personnel of the Company.” On this news, the price of ALT5 shares declined by $2.30 per share, or approximately 29.2%, from $7.88 per share on August 29, 2025 to close at $5.58 on September 2, 2025.
Then, on October 22, 2025, the Company announced that it had suspended CEO Peter Tassiopoulos and that CFO Jonathan Hugh had assumed Tassiopoulos’ duties. On this news, the price of ALT5 shares declined by $0.18 per share, or approximately 8.8%, from $2.04 per share on October 21, 2025 to close at $1.86 on October 22, 2025.
Subsequently, on November 12, 2025, ALT5 disclosed that the Company would not timely file its quarterly report as a result of the ongoing review of the matters disclosed in August and delays related to the timeliness and responsiveness of its outside auditor.
On November 26, 2025, ALT5 announced that it had fired CFO and acting CEO Hugh effective November 21. The Company also announced that its Audit Committee Chair, who joined the board in July 2025, had resigned from the board of directors and all committees on which he had served.
Finally, on November 28, 2025, ALT5 disclosed that its outside auditor had resigned the same day the Company fired CFO and acting CEO Hugh.
What Should I Do?
If you purchased or otherwise acquired ALT5 securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
investigations@kmllp.com
