The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of California on behalf of shareholders of ARS Pharmaceuticals, Inc. who purchased securities between March 9, 2026 and June 24, 2026.
According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the expected timeline for the expanded insurance coverage for neffy through CVS Caremark. On June 24, 2026, after the market closed, ARS published a press release announcing that the Company did not receive expanded insurance coverage for neffy through CVS Caremark by the guided July 1, 2026 deadline, which meant that ARS did not have expanded insurance coverage for neffy for the summer or back-to-school allergy seasons. ARS stated that CVS Caremark reserved its decision on the expanded insurance coverage for neffy until January 2027. On this news, investors and analysts reacted immediately to ARS’s revelation. The price of ARS’s common stock declined from a closing market price of $10.54 per share on June 24, 2026 to $8.02 per share on June 25, 2026, a decline of over 23.9% in the span of just a single day.
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 October 5, 2026 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
