NEW ORLEANS, Sept. 12, 2023 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 2, 2023 to file lead plaintiff applications in a securities class action lawsuit against Apellis Pharmaceuticals, Inc. (NasdaqGS: APLS), if they purchased the Company’s shares between January 28, 2021 and July 28, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Delaware.
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Apellis investors should visit us at https://claimsfiler.com/cases/nasdaq-apls/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Apellis and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 15, 2023, the American Society of Retina Specialists reported concerns with SYFOVRE, one of the Company’s leading therapeutic treatments for geographic atrophy, (a leading cause of blindness), based on physician reports of eye inflammation in patients treated with SYFOVRE, including six instances of occlusive retinal vasculitis, a type of inflammation that blocks blood flow through the vessels that feed the retina and that can potentially result in blindness. Then, on July 29, 2023, the Company disclosed the confirmation of a seventh event of retinal vasculitis resulting from the treatment, and also that it was evaluating an eighth reported event.
On this news, shares of Apellis fell $6.27 per share, or approximately 19.6%, from a close of $32.02 per share on July 28, 2023, to close at $25.75 per share on July 31, 2023.
The case is Soderberg v. Apellis Pharmaceuticals Inc., et al., No. 23-cv-00834.
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