An investigation for investors in Allakos Inc. (NASDAQ: ALLK) shares over potential securities laws violations by Allakos Inc. was announced.

An investigation was announced for investors of Allakos Inc. (NASDAQ: ALLK) shares over potential securities laws violations by Allakos Inc.

Investors who purchased shares of Allakos Inc. (NASDAQ: ALLK), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Allakos Inc. (NASDAQ: ALLK) concerning whether certain statements by Allakos Inc. (regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Carlos, CA based Allakos Inc., a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. On January 16, 2023, Allakos Inc. 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%."

Shares of Allakos Inc. (NASDAQ: ALLK) declined from $3.41 per share on December 18, 2023, to as low as $1.00 per share on January 17, 2024.

Those who purchased shares of Allakos Inc. (NASDAQ: ALLK) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.