SAN DIEGO, July 3, 2021 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of shareholders of Athira Pharma, Inc. (“Athira” or “the Company”) (NASDAQ:ATHA). The class action is on behalf of shareholders who purchased Athira common stock pursuant or traceable to the September 2020 initial public stock offering (the “IPO”). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than August 24, 2021.
On or about September 18, 2020, Athira sold 12 million shares of stock in its initial public stock offering (the “IPO”) at $17 a share, raising about $204,000,000 in new capital. The complaint alleges that the Registration Statement was negligently prepared and, as a result, contained untrue statements of material fact, omitted material facts necessary to make the statements contained therein not misleading, and failed to make necessary disclosures required under the rules and regulations governing its preparation. The lawsuit alleges defendants misrepresented and omitted crucial truths in the Registration Statement for the Company’s IPO regarding Athira CEO and President Leen Kawas. When the Company announced after the close of trading on June 17, 2021, that the Athira Board placed Dr. Kawas on temporary leave in light of claims that Dr. Kawas falsified research results in various academic papers, Athira’s stock plunged approximately 40% from $18.24 to $11.15 per share, well below the $17.00 IPO price, causing injury to all those who purchased Athira common stock pursuant or traceable to the IPO.
If you wish to serve as lead plaintiff in this class action, you must move the Court no later than August 24, 2021. A lead plaintiff will act on behalf of all other class members in directing the Athira class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Athira class action lawsuit is not dependent upon serving as lead plaintiff. If you are interested in learning more about the case, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson Fistel, LLP