NEW YORK, May 23, 2017 /PRNewswire/ -- Kaplan Fox
& Kilsheimer LLP (www.kaplanfox.com) is investigating claims on
behalf of investors of Akari Therapeutics, PLC ("Akari" or the
"Company") (NASDAQ: AKTX).
Class Action litigation has been filed in the United States
District Court for the Southern District of New York against Akari and certain executives
of the Company on behalf of investors who purchased or otherwise
acquired Akari's securities, including Akari's American Depositary
Shares ("ADSs"), between March 30,
2017 and May 11, 2017,
inclusive (the "Class"), alleging violations of the Securities
Exchange Act of 1934.
On April 26, 2017, Edison
Investment Research Ltd. ("Edison") issued a report entitled
"Akari's Coversin matches Soliris in Phase II" (the "Edison
Report").
The next day, on April 27, 2017,
the Company announced the withdrawal of the Edison Report due to
material inaccuracies related to the interim analysis of the
ongoing Phase 2 clinical trial of Coversin. The Company
further stated that investors should not rely upon any information
in the Edison Report. Following this news, Akari's ADSs fell
$1.46 per ADS, or about 8.9%, to
close at $15 per ADS on April 27, 2017.
On May 11, 2017, Akari filed a
Form 6-K with the SEC announcing that the Company established an
ad hoc special committee to review the involvement, if any,
of Company personnel with the Edison Report. Additionally,
the Company disclosed that Dr. Gur Roshwalb, Akari's CEO, had been
placed on administrative leave during the pendency of the
review. Following this news, Akari's ADSs fell $2.46 per ADS, or 21.4%, to close at $9.03 per ADS.
The class action alleges that throughout the Class Period,
defendants made materially false and/or misleading statements, as
well as failed to disclose material adverse facts about the
Company's business, operations, and prospects, including (1) that
the Company's CEO, and possibly other executives, were involved in
publishing false information about the Company, including false
information about the Phase 2 clinical trial of Coversin; (2) that
the Company lacked adequate checks and protections to prevent such
behavior; and (3) that, as a result of the foregoing, defendants'
statements about Akari's business, operations, and prospects, were
false and misleading and/or lacked a reasonable basis.
If you are a member of the proposed Class, you may move the
court no later than July 11, 2017 to
serve as a lead plaintiff for the purported class. You need not
seek to become a lead plaintiff in order to share in any possible
recovery. If you would like to discuss the complaint or our
investigation, please contact us by emailing pmayer@kaplanfox.com
or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions about
this Notice, the action, your rights, or your interests, please
contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP