LIVINGSTON, N.J., June 29, 2021 (GLOBE NEWSWIRE) -- Longman Law, P.C. filed a class action lawsuit against Athira Pharma, Inc. (“Athira”) (NASDAQ: ATHA), certain of its officers and directors, and the underwriters of the IPO of Athira common stock, entitled Timothy Slyne, et al. v. Athira Pharma, Inc., et al., C.A. 2:21-cv-00864, (W.D. Wash.) on behalf of purchasers of ATHA common stock either in the IPO in September 2020 or purchased shares on the open market that can be traced to the IPO. Our co-counsel is the nationally recognized firm Keller Rohrback, LLP. The lawsuit seeks remedies pursuant to the Securities Act of 1933.
If you purchased or acquired ATHA common stock pursuant to or traceable to the IPO and wish to serve as a lead plaintiff, you may move the court no later than August 24, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
The lawsuit alleges defendants misrepresented and omitted crucial truths in the Registration Statement for the company’s IPO regarding Athira CEO and President Leen Kawas. When the Company announced after close of trading on June 17, 2021 that the Athira Board placed Dr. Kawas on temporary leave in light of claims that Dr. Kawas falsified research results in various academic papers, Athira’s stock plunged approximately 40% from $18.24 to $11.15 per share, well below the $17.00 IPO price, causing injury to all those who purchased Athira common stock pursuant or traceable to the IPO.
Howard Longman has served as an attorney representing plaintiffs in securities class actions for over thirty years. As a lead counsel in many of these cases he has recovered hundreds of millions of dollars for investors in numerous class actions. For more information or to join the litigation, visit Longman.Law and contact Howard at AthiraClassAction@Longman.Law, or Adam Longman at the same email address. We are also reachable by phone at (973) 994-2315.
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