{"id":5399,"date":"2024-02-20T00:40:00","date_gmt":"2024-02-19T17:40:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2024\/02\/19\/2831411\/32716\/en\/Amylyx-Pharmaceuticals-AMLX-Sued-For-Securities-Fraud-After-Analyst-Questions-RELYVRIO-Data-Hagens-Berman.html2831411"},"modified":"2024-02-20T00:40:00","modified_gmt":"2024-02-19T17:40:00","slug":"amylyx-pharmaceuticals-amlx-sued-for-securities-fraud-after-analyst-questions-relyvrio-data-hagens-berman","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/amylyx-pharmaceuticals-amlx-sued-for-securities-fraud-after-analyst-questions-relyvrio-data-hagens-berman\/","title":{"rendered":"Amylyx Pharmaceuticals (AMLX) Sued For Securities Fraud After Analyst Questions RELYVRIO\u00ae Data \u2013 Hagens Berman"},"content":{"rendered":"\n

SAN FRANCISCO, Feb. 19, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX)<\/strong> investors who suffered substantial losses to submit your losses now<\/a>.<\/p>\n

Class Period: <\/strong>Nov. 11, 2022 \u2013 Nov. 8, 2023
Lead Plaintiff Deadline: <\/strong>Apr. 9, 2024
Visit:<\/strong> www.hbsslaw.com\/investor-fraud\/amlx<\/a>
Contact An Attorney Now:<\/strong> AMLX@hbsslaw.com<\/a>
                                                  844-916-0895<\/strong><\/p>\n

Amylyx Pharmaceuticals, Inc. (AMLX) Securities Fraud Class Action: <\/strong><\/p>\n

The litigation focuses on Amylyx\u2019s repeated emphasis on commercial prospects and prescription rates for its product intended to treat patients with Lou Gehrig\u2019s disease — RELYVRIO\u00ae.<\/p>\n

The complaint alleges that Amylyx made false and misleading statements and failed to disclose that: (1) it overstated RELYVRIO\u00ae\u2019s commercial prospects; (2) patients were discontinuing treatment with RELYVRIO\u00ae after 6 months; (3) the rate at which new patients were beginning treatment with RELYVRIO\u00ae was declining; (4) accordingly, Amylyx overstated RELYVRIO\u00ae\u2019s prescription rate; and (5) the company attempted to hide the foregoing negative trends by blocking analysts from viewing RELYVRIO\u00ae prescription data.<\/p>\n

Investors learned the truth on Nov. 9, 2023, when Amylyx announced disappointing Q3 2023 financial results and blamed the slowdown in its business on increased discontinuations.<\/p>\n

The same day, Investor\u2019s Business Daily <\/em>published an article citing an Evercore ISI analyst, who reportedly questioned the company\u2019s assertion that new patients starting treatment with RELYVRIO\u00ae was \u201csteady,\u201d noted that his math suggested otherwise, and said that Amylyx blocked analysts from viewing RELYVRIO\u00ae prescription data in the summer of 2023.<\/p>\n

These events sent the price of Amylyx shares crashing $5.74, or about 31% lower, on Nov. 9, 2023.<\/p>\n

“We\u2019re focused on investors\u2019 losses and whether Amylyx intentionally misrepresented RELYVRIO\u00ae\u2019s commercial prospects, \u201csteady\u201d prescription rates, and discontinuations,\u201d said Reed Kathrein, the Hagens Berman partner leading the firm\u2019s investigation.<\/p>\n

If you invested in Amylyx Pharmaceuticals and have substantial losses, or have knowledge that may assist the firm\u2019s investigation, submit your losses now<\/a> \u00bb<\/p>\n

If you\u2019d like more information and answers to frequently asked questions about the Amylyx case and our investigation, read more<\/a> \u00bb<\/a><\/p>\n

Whistleblowers: <\/strong>Persons with non-public information regarding Amylyx Pharmaceuticals should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895<\/strong> or email AMLX@hbsslaw.com<\/a>.<\/p>\n

About Hagens Berman<\/a>
Hagens Berman is a global plaintiffs\u2019 rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com<\/a>. Follow the firm for updates and news at @ClassActionLaw<\/a>. <\/p>\n

Attorney advertising.<\/strong>
Past results do not guarantee future outcomes.<\/strong>
Services may be performed by attorneys in any of our offices<\/strong>. <\/p>\n

Contact: <\/u>
Reed Kathrein, 844-916-0895<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Amylyx Pharmaceuticals Investors with Substantial Losses Encouraged to Contact Hagens Berman, National Trial AttorneysSAN FRANCISCO, Feb. 19, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX) investors who suffered substantial losses to submit your losses now. Class Period: Nov. 11, 2022 \u2013 Nov. 8, 2023Lead Plaintiff Deadline: Apr. 9, 2024Visit: www.hbsslaw.com\/investor-fraud\/amlx Contact An Attorney Now: AMLX@hbsslaw.com \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0…<\/p>\n","protected":false},"author":1,"featured_media":5400,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[75,1406],"tags":[],"class_list":["post-5399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-globenewswire"],"yoast_head":"\nAmylyx Pharmaceuticals (AMLX) Sued For Securities Fraud After Analyst Questions RELYVRIO\u00ae Data \u2013 Hagens Berman<\/title>\n<meta name=\"description\" content=\"Amylyx Pharmaceuticals Investors with Substantial Losses Encouraged to Contact Hagens Berman, National Trial AttorneysSAN FRANCISCO, Feb. 19, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Amylyx Pharmaceuticals, Inc. 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