Akari Therapeutics, Plc ("Akari") is a biopharmaceutical company focused on developing inhibitors of acute and chronic inflammation.

According to the law firm press release, the Complaint filed in this class action lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company’s CEO, and possibly other executives, were involved in publishing false information about the Company, including false information about the Phase 2 PNH trial of Coversin; (2) that the Company lacked adequate checks and protections to prevent such behavior; and (3) that, as a result of the foregoing, Defendants’ statements about Akari’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On August 10, 2017, the Court issued an Order Consolidating Cases. The Consolidated Cases shall be identified as: In re Akari Therapeutics PLC Securities Litigation, Case No. l7-cv-03577-KPF.

On September 7, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated Complaint on November 6. Lead Plaintiffs filed an amended Complaint on January 31, 2018. On July 27, Lead Plaintiffs voluntarily dismissed one of the Defendants.

On August 3, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on August 7. On November 28, the Court granted final approval of the Settlement and entered Final Judgment. The Court issued an Order granting the unopposed Motion for Distribution of Class Action Settlement funds on February 4, 2019.