NEW YORK, NY / ACCESSWIRE / August 19, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Allarity Therapeutics, Inc. ("Allarity" or the "Company") (NASDAQ:ALLR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Allarity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 6, 2023, Allarity disclosed in a regulatory filing that it had received a letter from the U.S. Securities and Exchange Commission ("SEC") in January 2023, requesting documents that "appear to focus on disclosures relating to submissions, communications and meetings with the [U.S. Food and Drug Administration (‘FDA')] regarding our [New Drug Application] for Dovitinib or Dovitinib-DRP," which was submitted to the FDA in 2021.
On this news, Allarity's stock price fell $0.009 per share, or 3.8%, to close at $0.228 per share on February 6, 2023.
Then, on July 22, 2024, Allarity disclosed in another regulatory filing that it had "received a ‘Wells Notice' from the Staff of the [SEC] relating to the Company's previously disclosed SEC investigation," that "three of its former officers received Wells Notices from the SEC relating to the same conduct," and "that the SEC Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company that would allege certain violations of the federal securities laws."
On this news, Allarity's stock price fell $0.004 per share, or 2.38%, to close at $0.164 per share on July 22, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com.
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SOURCE: Pomerantz LLP
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