AnaptysBio Drug Stock Suit Gets Union Fund as Lead Plaintiff

July 16, 2020, 4:13 PM

An trust representing a set of benefit plans for ironworkers will serve as lead plaintiff in a proposed class action against AnaptysBio Inc. alleging the company misled investors about the effectiveness of a drug candidate, a federal court in California ruled.

The Iron Workers Local 580 Joint Funds said it suffered the greatest alleged losses, $200,000, among the proposed class members, according to the U.S. District Court for the Southern District of California. Its counsel, Bernstein Litowitz Berger & Grossmann LLP, will serve as lead counsel, the court said Wednesday.

AnaptysBio allegedly made misrepresentations about its primary drug candidate, etokimab, ...

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