NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Athira Pharma, Inc. (NASDAQ: ATHA) on behalf of long-term stockholders following a class action complaint that was filed against Athira on June 25, 2021 with a Class Period from September 17, 2020 through June 17, 2021. Our investigation concerns whether the board of directors of Athira have breached their fiduciary duties to the company.
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On June 17, 2021, after the markets closed, Athira announced that the company’s board had placed its president and CEO, Leen Kawas, on temporary leave pending their investigation of “actions stemming from doctoral research Dr. Kawas conducted while at Washington State University.” According to one investment analyst, the scientific basis for Athira came out of the work Kawas and her colleagues developed at Washington State and this news could have “clear negative implications for how we/investors view the asset, and/or management credibility.” Healthcare news outlets also cited concerns that images in academic articles published by Kawas could have been manipulated.
On this news, Athira’s stock price fell $7.09 per share, or nearly 39%, to close at $11.15 per share on June 18, 2021, on unusually heavy trading volume.
If you are a long-term stockholder of Athira, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.