NEW YORK, May 17, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Altimmune, Inc. (“Altimmune” or the “Company”) (NASDAQ: ALT) for violations of the federal securities laws on behalf of investors who purchased or acquired Altimmune common stock between December 1, 2023 and April 26, 2024, inclusive (the “Class Period”).
On May 6, 2024, a complaint was filed against the Company and certain of its current officers alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Altimmune overstated the potential for pemvidutide to stand out from competing GLP-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.
When investors learned the truth, Altimmune’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $100,000 in Altimmune’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before July 5, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
