AKERO THERAPEUTICS SHAREHOLDER ALERT FROM FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES MORE THAN $100,000 of lead plaintiff deadline in class action lawsuit against Akero Therapeutics, Inc. – AKRO

NEW ORLEANS, May 10, 2024 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they still have time have June 25, 2024 to file lead plaintiff motions in a securities class action lawsuit against Akero Therapeutics, Inc. (NasdaqGS: AKRO) if you purchased or otherwise acquired the Company’s shares between September 13, 2022 and October 9, 2023 (including the “Class Period”). ). This lawsuit is pending in the U.S. District Court for the Northern District of California.

What you can do

If you have purchased shares in Akero and would like to discuss your legal rights and what impact this case may have on you and your right to compensation for your economic loss, you can contact KSF’s managing partner, Lewis, without obligation and at no cost to you Kahn, contact 1-877-515-1850 or email ([email protected]) or visit https://www.ksfcounsel.com/cases/nasdaqgs-akro/ to learn more. If you would like to serve as lead plaintiff in this class action lawsuit, you must file a motion with the court by mail June 25, 2024.

About the lawsuit

Akero and certain of its executives are accused of failing to disclose material information during the Class Period, thereby violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) approximately 20% of patients enrolled in the SYMMETRY study for the Company’s lead product candidate, Efruxifermin (“EFX”), had cryptogenic cirrhosis ( and this wasn’t the case either). have definite nonalcoholic steatohepatitis (“NASH”), a severe liver disease, at baseline; (ii) patients with cryptogenic cirrhosis included in the SYMMETRY trial did not have biopsy-proven compensated cirrhosis due to definitive NASH; (iii) the outcomes of patients with cryptogenic cirrhosis should be excluded from the calculation of secondary endpoints of NASH resolution; (iv) the Company introduced a confounding factor into the design of the SYMMETRY trial that materially affected the potential results of the trial and increased the risk that the trial would not meet its primary endpoint; (v) the SYMMETRY study did not meet the U.S. Food & Drug Administration guidelines for testing a drug for the treatment of NASH cirrhosis because Akero had not ruled out possible causes of each patient’s cirrhosis other than NASH; and (vi) as a result, the Company had the nature of the SYMMETRY trial, its utility in supporting any new drug application, the likelihood that the SYMMETRY trial would be successful based on its primary endpoint, and the likelihood that EFX would be successful, significantly misrepresented a commercial treatment for NASH cirrhosis.

On October 10, 2023, pre-market, the market finally began to learn the truth when the company released the 36-week study results, which caused the price of Akero shares to rise by 30.39 on October 10, 2023 $3.11 per share on October 10, 2023 on October 11, 2023 on higher-than-normal volume – a decline of nearly 70% from the stock’s closing price of $48.54 per share on October 11, 2023 October 9, 2023.

The case is Klobus v. Akero Therapeutics, Inc., No. 24-cv-02534.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, asset managers and retail investors – in obtaining compensation for investment losses resulting from corporate fraud or misconduct by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, managing partner
[email protected] 1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

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SOURCE Kahn Swick & Foti, LLC