Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased securities of Apellis and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-apls/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 2, 2023.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
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Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
