Acelyrin (SLRN) Clinical Trial Case

The defendant has requested the court to dismiss the case.

C.D. California

Court

2:23-cv-09672

Case number

05/04/2023

Class period Start

09/11/2023

Class period End

01/15/2024

Lead Plaintiff motion deadline

Acelyrin allegedly exaggerated one of its main product effectiveness.
On September 13, 2023, the truth came out, leading to a 16% $SLRN fall.
Acelyrin went public in May, 2023, selling 30 million shares at $18.00 each. 

In September, Acelyrin revealed disappointing results for izokibep (one of its main drugs) in a clinical trial.

This news caused $SLRN fall by 16% and $203M loss of market cap, damaging shareholders.

Given all this information, investors have reason to suspect that Acelyrin misled about izokibep's success, leading to an overestimation of its business prospects after going public.

Case Status

Motion to dismiss

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

09/13/2023

Filing date

11/15/2023

Lead Plaintiff Deadline

01/15/2024

Judge

Maria A Audero

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