AKERO THERAPEUTICS SHAREHOLDER ALERT FROM FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES OVER $100,000 OF DEADLINE FOR LEAD PLAINTIFF FILING IN CLASS ACTION ACTION AGAINST Akero Therapeutics, Inc.

NEW ORLEANS, May 24, 2024 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF Partner, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have until 25 June 2024 to file lead plaintiff motions in a class action lawsuit against Akero Therapeutics, Inc. (NasdaqGS: AKRO) if they acquire the Company’s shares between 13 September 2022 And October 9, 2023inclusive (the “Claim Period”). This action is pending in The United States District Court for the Northern District of California.

What you can do

If you have purchased Akero shares and would like to discuss your legal rights, the impact of this case on you and your right to compensation for your economic loss, you may contact KSF Managing Partner Lewis Kahn, without obligation and free of charge, by calling toll-free 1-877-515-1850 or by email ((email protected)), or visit https://www.ksfcounsel.com/cases/nasdaqgs-akro/ to learn more. If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court by 25 June 2024.

About the lawsuit

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

The allegedly The false and misleading statements and omissions include, among others: (i) approximately 20% of patients enrolled in the SYMMETRY study for the Company’s lead product candidate, efruxifermin (“EFX”), had cryptogenic cirrhosis (and not definitive nonalcoholic steatohepatitis (“NASH”), a serious liver disease, at baseline; (ii) patients with cryptogenic cirrhosis enrolled in the SYMMETRY study did not have biopsy-proven compensated cirrhosis due to definitive NASH; (iii) the results of patients with cryptogenic cirrhosis should not be considered in calculating the secondary endpoints for NASH resolution; (iv) the Company introduced a confounder into the design of the SYMMETRY study that materially affected the potential results of the study and increased the risk that the study would not meet its primary endpoint; (v) the SYMMETRY trial did not comply with U.S. Food & Drug Administration guidelines for testing a drug to treat NASH cirrhosis because Akero did not rule out possible causes of cirrhosis other than NASH in any of the patients; and (vi) as a result, the Company materially misrepresented the nature of the SYMMETRY trial, its utility in supporting a New Drug Application, the likelihood of success of the SYMMETRY trial as measured by its primary endpoint, and the likelihood that EFX would become a commercial treatment for NASH cirrhosis.

The market finally began to learn the truth October 10, 2023premarket when the company announced the 36-week results of the study, which caused Akero’s share price to fall 30,39 € per share on October 10, 2023 And $3.11 per share on October 11, 2023 on above-average volume – a decline of almost 70% compared to the closing price of the share $48.54 per share on 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 firms. KSF serves a wide range of clients, including public institutional investors, hedge funds, asset managers and individual investors, in recovering investment losses from corporate transactions. Fraud or abuse of office by listed 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 KahnManaging Partner
(email protected)
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

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