ALLK - Allakos Inc. (ALLK) Investigation: Bronstein Gewirtz & Grossman LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

NEW YORK, NY / ACCESSWIRE / January 17, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Allakos Inc. ("Allakos" or "the Company") (NASDAQ:ALLK). Investors who purchased Allakos securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/ALLK.

Investigation Details:

On January 16, 2023, Allakos issued a press release "announc[ing] a restructuring to reduce costs and to focus on AK006 clinical development and additional preclinical programs." The Company stated that it "will halt lirentelimab-related activities across clinical, manufacturing, research and administrative functions" and, "[a]s a result, the Company will reduce its workforce by approximately 50%." On this news, Allakos's stock price fell $1.80 per share, or 60.2%, to close at $1.19 per share on January 16, 2023.

What's Next?

If you are aware of any facts relating to this investigation or purchased Allakos securities, you can assist this investigation by visiting the firm's site: bgandg.com/ALLK. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | info@bgandg.com

SOURCE: Bronstein, Gewirtz and Grossman, LLC