| COMPANY |
Athira Pharma, Inc. |
| COURT |
United States District Court for the Western District of Washington |
| CASE NUMBER |
21-cv-00861 |
| JUDGE |
The Honorable Thomas S. Zilly |
| CLASS PERIOD |
September 18, 2020 - June 17, 2021 |
| SECURITY TYPE |
Common Stock |
Case Background:
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 February 15, 2024, the Court issued an Order granting in part and deferring in part Lead Plaintiffs’ Unopposed Renewed Motion for Preliminary Approval of Proposed Class Settlement and scheduled a Final Settlement Hearing for October 25, 2024.
The deadline to file a claim is September 6, 2024. Please note that Kessler Topaz did not file a claim on your behalf. Even if you previously provided your trading information to Kessler Topaz regarding this action, the Settlement requires that you must submit a claim form to the claims administrator to participate in the Settlement. If you have not yet already received or submitted a claim form, or if you would like to submit a claim form on-line, please contact the claims administrator at www.AthiraSecuritiesSettlement.com, or by calling the claims administrator, Strategic Claims Services at 1-866-274-4004.
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.