Securities
May 7, 2025
Putative investors' class suit over Akero's cirrhosis drug tossed
Federal judge dismisses securities class action against Akero Therapeutics, finding no evidence of intentional misrepresentation in clinical trial patient data for its MASH cirrhosis drug, Efruxifermin.
A federal judge in Oakland dismissed a putative securities class action accusing Akero Therapeutics and its executives of misrepresenting the types of patients used in trials to develop an FDA-approved drug to treat alcoholism-caused cirrhosis of the liver.
The investor plaintiffs claimed Akero raised $577 million in funding by misleading stock purchasers between September 2022 and October 2023 about whether clinical trial patients had been confirmed to suffer from metabolic dysfu...
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