| COMPANY |
Athira Pharma, Inc. |
| COURT |
United States District Court for the Western District of Washington |
| CASE NUMBER |
21-cv-00861 |
| JUDGE |
Honorable Thomas S. Zilly |
| CLASS PERIOD |
September 18, 2020 through June 17, 2021 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities/those that purchased or otherwise acquired Athira Pharmaceuticals (“Athira”) common stock between September 18, 2020, and June 17, 2021, inclusive (the “Class Period”). According to the complaints, on June 17, 2021, after the market closed, Athira announced in a press release that it had placed its president and Chief Executive Officer, Dr. Leen Kawas, on leave pending a review of actions stemming from doctoral research she conducted while at Washington State University (“WSU”). According to Athira’s press release, Athira’s Board “formed an independent special committee to undertake this review.”
The complaint alleges that in the Registration Statement and/or throughout the Class Period the Defendants made materially false and misleading statements and omitted to state that: (1) Dr. Kawas had published research papers containing improperly altered images while she was a graduate student; (2) this purported research was foundational to Athira’s efforts to develop treatments for Alzheimer’s because it laid the biological groundwork that Athira was using in its approach to treating Alzheimer’s; (3) as a result, Athira’s intellectual property and product development for the treatment of Alzheimer’s was based on invalid research; and (4) as a result of the foregoing, the defendants’ positive statements about Athira’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On November 1, 2024, the Court granted final approval of the Class Action Settlement. This action has concluded.
Please be advised that the deadline to file a claim was September 6, 2024. You may find additional information regarding the terms of the settlement and claim filing process at https://athirasecuritiessettlement.com/, or by contacting the claims administrator, Strategic Claims Services at 866-274-4004.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; 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.