Amylyx Pharmaceuticals Inc. and top executives will pay $6.5 million to resolve proposed class allegations they overstated to investors the company’s since-withdrawn treatment’s commercial potential in the ALS community.
The settlement class would include those who got Amylyx stock from Nov. 11, 2022, to Nov. 8, 2023, the investor leading the case said while seeking preliminary approval of the deal Monday.
If approved by the US District Court for the District of Massachusetts, the agreement would resolve allegations that Amylyx issued rosy projections in 2023 about treatment Relyvrio’s growth potential while omitting discontinuation data.
Investor Oliver Shih adequately alleged an ...
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