The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of Maryland on behalf of shareholders of Altimmune, Inc. who purchased securities between December 1, 2023 and April 26, 2024.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Altimmune overstated the potential for its lead product candidate, pemvidutide, to stand out from competing glucagon-like peptide-1 agonists based on the drug’s efficacy and tolerability results observed in the MOMENTUM Trial; (ii) accordingly, the MOMENTUM Trial results were less significant to pemvidutide’s clinical, commercial, and competitive prospects than Defendants had led investors to believe; (iii) as a result of all the foregoing, defendants had overstated Altimmune’s prospects for finding a strategic partner to develop pemvidutide; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 5, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
