Nov 28, 2023
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Grabar Law Office Investigates Claims on Behalf of Long-Term Shareholders of Amylyx Pharmaceuticals, Inc. (AMLX) as Company Formally Pulls Relyvrio from the Market
April 05, 2024 8:08 AM EDT | Source: Grabar Law Office
Philadelphia, Pennsylvania--(Newsfile Corp. - April 5, 2024) - On Thursday April 4, 2024, Amylyx (NASDAQ: AMLX) formally announced that "Relyvrio/Albrioza will no longer be available for new patients as of today."
Long-Term shareholders who have held Amylyx shares since prior to November 8, 2022 can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever. Visit https://grabarlaw.com/the-latest/amylyx-shareholder-investigation/ to learn more about your rights or to participate in the action.
What Is Happening: A recently filed securities fraud class action complaint alleges that, Amylyx Pharmaceuticals, Inc., through certain of its officers and directors, made materially false and misleading statements regarding the Company's business, operations, and prospects in that: (i) Defendants had overstated Relyvrio's commercial prospects; (ii) patients were discontinuing treatment with Relyvrio after six months; (iii) the rate at which new patients were starting treatment with Relyvrio was decreasing; (iv) accordingly, Defendants had also overstated Relyvrio's prescription rate; (v) Defendants attempted to hide the foregoing negative trends from investors and the market by blocking analysts from viewing Relyvrio's prescription data; and (vi) as a result, Defendants' public statements were materially false and misleading at all relevant times. Then on April 4, 2024, Amylyx announced it was pulling Relyvrio from the market.
What Now: Amylyx shareholders who purchased Amylyx shares prior to November 8, 2022 who wish to learn more about their rights are encouraged to visit https://grabarlaw.com/the-latest/amylyx-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204461