Lawsuit Announcement: Bragar Eagel & Squire, P.C. has initiated a class action suit against Alto Neuroscience, Inc. (ANRO), and urges investors to get in touch with the firm.
Bragar Eagel & Squire, P.C., a nationally recognized law firm with offices in New York, California, and South Carolina, has filed a class action lawsuit against Alto Neuroscience, Inc. (ANRO) in the United States District Court Northern District Of California.
The lawsuit alleges that Alto, a biopharmaceutical company focused on developing and commercializing transformative treatments for central nervous system disorders, overstated the clinical, regulatory, and commercial prospects of its lead product, ALTO-100. According to the complaint, the Offering Documents in support of the Initial Public Offering (IPO) were negligently prepared, and during the class period, defendants failed to disclose that ALTO-100 was less effective in treating Major Depressive Disorder (MDD) than defendants had led investors to believe.
As a result, Alto's business and/or financial prospects were overstated, and on October 22, 2024, when Alto issued a press release announcing topline results from the Phase 2b trial evaluating ALTO-100 as a treatment for MDD, the stock price fell $10.17 per share, or 69.99%.
The class action lawsuit is on behalf of all persons and entities who purchased or otherwise acquired Alto securities between February 2, 2024, and October 22, 2024. Bragar Eagel & Squire, P.C. represents individual and institutional investors in commercial, securities, derivative, and other complex litigation.
Investors who purchased Alto shares and wish to discuss their legal options can contact Brandon Walker, Esq., or Marion Passmore at [contact information provided]. Brandon Walker, Esq. can also be followed on LinkedIn and X, and the firm can be followed for updates on LinkedIn, X, and Facebook.
Investors have until September 19, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit. It is important to note that prior results do not guarantee similar outcomes.
For more information about the lawsuit, please visit Bragar Eagel & Squire, P.C.'s website.
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