| COMPANY |
Acelyrin, Inc. |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
23-cv-09672 |
| JUDGE |
The Hon. Fernando Manzano Olguin |
| CLASS PERIOD |
May 4, 2023 through September 11, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Acelyrin, Inc. (“Acelyrin”) (NASDAQ: SLRN) securities between May 4, 2023 and September 11, 2023, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) izokibep was less effective in treating Hidradenitis Suppurativa than Defendants had led investors to believe; (2) accordingly, Acelyrin overstated izokibep's clinical and/or commercial prospects; (3) as a result, Acelyrin also overstated the company's business prospects post-IPO; and (4) as a result, the company's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On March 26, 2024, Lead Plaintiff filed the First Amended Complaint. Defendants filed Motion to Dismiss the First Amended Complaint on May 3, 2024. The Motion is fully briefed and pending the Court’s decision. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.