ALT - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Altimmune Inc (ALT) | Benzinga

NEW YORK, May 07, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Maryland on behalf of all persons or entities who purchased or otherwise acquired Altimmune, Inc. ("Altimmune, Inc." or the "Company") (NASDAQ:ALT) securities between December 1, 2023 and April 26, 2024, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors under the federal securities laws.

The Complaint in the lawsuit alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Altimmune overstated the potential for pemvidutide to stand out from competing GLP-1 agonists based on the drug's efficacy and tolerability results observed in the MOMENTUM Trial; (ii) accordingly, the MOMENTUM Trial results were less significant to pemvidutide's clinical, commercial, and competitive prospects than Defendants had led investors to believe; (iii) as a result of all the foregoing, Defendants had overstated Altimmune's prospects for finding a strategic partner ...

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