According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- defendants had overstated the Dovitinib, Allarity’s drug candidate which treats renal cell carcinoma, new drug application’s (“NDA”) continued regulatory prospects;
- Allarity and three of its former officers had engaged in illegal, illicit, and/or otherwise improper conduct in connection with the Dovitinib NDA and/or the Dovitinib-DRP premarket approval application (“PMA”);
- the foregoing misconduct subjected Allarity to an increased risk of regulatory and/or governmental scrutiny and enforcement action, as well as significant legal, monetary, and reputational harm;
- following Allarity’s announcement that it was, in fact, being investigated for wrongdoing in connection with the Dovitinib NDA and/or the Dovitinib-DRP PMA, Allarity downplayed the substantial likelihood that an enforcement action would result from such investigation; and
- as a result, Allarity’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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