Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Apellis Pharmaceuticals, Inc. ("Apellis") (NASDAQ: APLS) common stock between January 28, 2021 and July 28, 2023, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Apellis’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) the design of SYFOVRE’s clinical trials was insufficient to identify incidents of retinal vasculitis in patients receiving SYFOVRE injections; (2) as a result, the commercial adoption of SYFOVRE was subject to significant, unknown risk factors; and (3) therefore, Defendants’ statements about Apellis’s business, operations, and prospects lacked a reasonable basis at all relevant times.
Current Status of Case:
On March 17, 2025, the Court granted Defendants’ Motion to Dismiss. On April 16, 2025, Lead Plaintiff filed a Notice of Appeal to the First Circuit Court of Appeals. The appeal is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.