NEW YORK, June 30, 2017 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed
against Akari Therapeutics plc. (“Akari” or the “Company”) (NASDAQ:AKTX) and certain of its officers. The class action,
filed in United States District Court, Southern District of New York, and docketed under 17-cv-03783, is on behalf of a class
consisting of investors who purchased or otherwise acquired Akari American Depository Receipts (“ADR” or “share”) securities,
seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased shares between March 30, 2017 and May 11, 2017, both dates inclusive, you
have until July 11, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be
obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who
inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
[Click here to join this class action]
Akari Therapeutics, plc is a clinical-stage biopharmaceutical company focused on developing inhibitors of acute
and chronic inflammation, specifically the complement system, the eicosanoid system, and the bioamine system for the treatment of
rare and orphan diseases.
On April 26, 2017, Edison Investment Research Ltd. (“Edison”) issued a report titled “Akari’s Coversin matches
Soliris in Phase II” (the “Edison Report”).
On April 27, 2017, the Company disclosed that Edison had withdrawn its report because it contained material
inaccuracies related to Akari’s interim analysis of its Phase 2 PNH trial of Coversin. The Company further stated that investors
should not rely upon any information contained in the Edison Report.
Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements
regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading
statements and/or failed to disclose that: (i) officers of the Company, including Akari’s Chief Executive Officer (“CEO”),
were involved in publishing false information about the Company, including false information about the Phase 2 PNH trial of the
Company’s Coversin product; (ii) the Company lacked adequate checks and protections to prevent such behavior; and (iii) as a result
of the foregoing, Akari’s public statements were materially false and misleading at all relevant times.
On May 11, 2017, Akari filed a Form 6-K with the Securities and Exchange Commission announcing that Akari had
established an ad hoc special committee to review the involvement of Company personnel in preparing the inaccurate Edison Report.
Furthermore, the Form 6-K disclosed that Dr. Gur Roshwalb, the CEO, has been placed on administrative leave while the review is
pending.
On this news, the Company’s shares price fell $2.46, or 21.41%, to close at $9.03 on May 12, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the
premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz,
known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80
years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities
fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com