LOS ANGELES, CA / ACCESSWIRE / February 18, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Allakos Inc. ("Allakos" or "the Company") (NASDAQ:ALLK) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Seligman Investments published a report on December 18, 2019, describing Allakos as "A Suspect Biotech with a Phase 2 Farce, Incredulous Trial Investigators, and Warning Signs of Potential Fraud." The report detailed 22 distinct 22 warning signs and signals, including the company having "buried the results for the two AK001 studies it conducted, but our research indicates a debacle," a "checkered history of conducting small, low-credibility trials, marked by . . . discrepancies, omissions, cherry-picking, and other red flags," and engaging in "fragrant nepotism in key clinical roles." Based on this report, shares of Allakos fell by nearly 10% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com
www.schallfirm.com
SOURCE: The Schall Law Firm
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https://www.accesswire.com/576941/ONGOING-INVESTIGATION-NOTICE-The-Schall-Law-Firm-Announces-it-is-Investigating-Claims-Against-Allakos-Inc-and-Encourages-Investors-with-Losses-to-Contact-the-Firm
