Apellis Pharmaceuticals Inc. leadership didn’t disclose risks connected to its premier blindness-prevention treatment, causing the company stock’s worst month since joining the market and exposing it to a proposed class action lawsuit, a shareholder derivative action says.
Executives and board members allegedly hid that Apellis’ injections targeting age-related geographic atrophy, a top cause of vision loss in older people, caused some instances of an eye inflammation that can increase someone’s risk of blindness, says the complaint filed by Kenneth Olson in the US District Court for the District of Massachusetts on Monday.
It’s the second shareholder derivative lawsuit filed in ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.