Investors Alert: Key Dates for Allarity Therapeutics Lawsuit

Attention Investors in Allarity Therapeutics

The Law Offices of Howard G. Smith is reminding investors about an important deadline that is approaching for those involved with Allarity Therapeutics, Inc. The deadline, set for November 12, serves as a crucial date for filing a lead plaintiff motion regarding the ongoing class action lawsuit. This lawsuit concerns investors who purchased securities of Allarity Therapeutics, Inc. (NASDAQ: ALLR) during a specified period.

Overview of the Class Action Lawsuit

The class action lawsuit spans from May 17, 2022 to July 19, 2024. During this time, allegations have surfaced regarding misleading statements made by the company's leadership, raising concerns about transparency and accountability. The Law Offices of Howard G. Smith encourages investors who believe they have suffered losses to reach out to discuss their options regarding this pending legal matter.

Key Events Leading to Legal Action

Several significant disclosures from Allarity have raised red flags for investors. For instance, on February 6, 2023, the company revealed that it had received a document request from the SEC and was under investigation for possible violations of federal securities laws. Following this announcement, Allarity's stock experienced a decline of 3.8%, closing at $0.228 per share.

Recent Developments Impacting Shareholders

On December 11, 2023, a major change in leadership occurred with the termination of the CEO, further adding to investor concerns. This announcement resulted in a 13.4% drop in stock price, closing at $0.486 per share. Additionally, on July 22, 2024, the company faced another setback when it received a Wells Notice from the SEC, linked to prior disclosures regarding its FDA applications for Dovitinib, causing its stock to fall 2.4% to $0.164 per share the same day.

Legal Implications for Allarity Investors

Investors who acquired Allarity securities within the specified class period may have legal grounds to seek recourse. The lawsuit cites that during the Class Period, Allarity's leadership allegedly made false and misleading statements about the Dovitinib NDA and its prospects for approval. Specifically, it is claimed that they overstated the regulatory approval likelihood while concealing potential legal and reputational harms related to their conduct.

Your Options as a Potential Class Member

If you purchased or acquired Allarity securities during the outlined Class Period, you have until November 12 to notify the court if you wish to be appointed as the lead plaintiff. It's important to remember that you do not need to take any immediate action but may choose to engage legal counsel.

Taking Action: Contact Information

For investors looking for guidance or additional information about their rights, the Law Offices of Howard G. Smith remains available. You can reach them at (215) 638-4847 or via email. They are prepared to assist you with any inquiries regarding your interests in this legal matter.

Frequently Asked Questions

What is the deadline for filing a lead plaintiff motion?

The deadline to file a lead plaintiff motion in the class action lawsuit against Allarity Therapeutics, Inc. is November 12.

What time frame does the class action cover?

The class period for the lawsuit spans from May 17, 2022, to July 19, 2024.

What are the main allegations in the lawsuit?

The lawsuit alleges that Allarity's leaders made misleading statements regarding the Dovitinib NDA and its business prospects, failing to disclose material adverse facts.

How can I contact the law firm handling the case?

You can contact the Law Offices of Howard G. Smith at (215) 638-4847 for further information or inquiries.

What should I do if I have questions about my rights?

If you have questions concerning your rights or the class action, reaching out to a legal professional or the law firm can provide you with the necessary guidance.

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