PHILADELPHIA, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Athira Pharma, Inc. (“Athira” or the “Company”) ( ATHA) on behalf of the Company’s long-term investors. The investigation seeks to determine whether the members of Athira’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with alleged corporate misconduct.
Recently an amended securities fraud complaint was filed against Athira on behalf of certain investors who purchased shares of the Company’s common stock pursuant and/or traceable to Athria’s initial public offering (“IPO”) in September 2020.
According to the complaint, the Company’s IPO materials filed with the U.S. Securities and Exchange Commission contained “untrue statements of material fact and omitted material facts about the Company’s business and operations, including misrepresentations and omissions about [Athira’s former CEO Leen] Kawas’s falsified research regarding the compound underlying” the Company’s lead product.
On June 17, 2021, Athira issued a press release entitled “Athira Pharma Chief Operating Officer, Mark Litton, Assumes Day-to-Day Leadership Responsibilities of Company; Leen Kawas Placed on Temporary Leave Pending Board Review of Actions Stemming from Doctoral Research While at Washington State University.” Following this disclosure, shares of Athira’s stock fell $7.09 per share, or 39% in value, to close on June 18, 2021 at $11.15 per share, on heavy trading volume.
Athira stockholders who purchased or acquired shares of the Company’s stock in September 2020 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/athira-pharma-inc/ , to receive additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
Adrienne Bell, Esq.
[email protected]
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
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