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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Alnylam Pharmaceuticals, Inc. (NASDAQGS: ALNY) who purchased shares between February 15, 2018 and September 12, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Alnylam lawsuit alleges that (1) Alnylam overstated the efficacy and safety of its Onpattro (patisiran) lipid complex injection; and (2) as a result, Alnylam’s public statements were materially false and misleading at all relevant times.
Shareholders have until November 26, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
In May 2003, Alnylam Pharmaceuticals, Inc. was established in Delaware. Alnylam U.S., Inc. and Ribopharma AG are wholly owned subsidiaries of Alnylam Pharmaceuticals, Inc., which was founded in Delaware in June 2002 and Germany, respectively, in June 2000. In July 2003, Ribopharma AG was bought by Alnylam Pharmaceuticals, Inc. Our phone number is (617) 252-0700, and our main office is situated at 790 Memorial Drive in Cambridge, Massachusetts, 02139. Our website’s domain name is www.alnylam.com. The content of our website is not included in this prospectus by reference and should not be regarded as a part of it. This prospectus contains the URL to our website merely as an inactive technical references.
A biopharmaceutical business called Alnylam Pharmaceuticals Inc. (Alnylam) finds, creates, and sells medications based on RNAi interference. Onpattro, Givlaari, and Oxlumo are three of the company’s marketed RNAi therapeutics that are used to treat the polyneuropathy of hereditary transthyretin-mediated amyloidosis (hATTR amyloidosis), acute hepatic porphyria, and primary hyperoxaluria type 1. (PH1). The business creates a wide range of investigational RNAi medications for use in treating disorders of the central nervous system (CNS), liver infections, cardiometabolic conditions, and genetics. Vutrisiran for ATTR amyloidosis, Inclisiran for hypercholesterolemia, Fitusiran for hemophilia and uncommon bleeding diseases, and Lumasiran for severe PH1 are some of its late-stage pharmaceutical candidates. North America, Europe, and Asia-Pacific are all regions where the corporation has subsidiaries. The US city of Cambridge, Massachusetts, is home to Alnylam’s headquarters.
Alnylam Pharmaceuticals, Inc. case number 18-CV-8845, et al. The complaint, as further amended, claims that we violated certain federal securities laws, specifically those outlined in Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 issued thereunder, along with our chief executive officer, chief financial officer, and a few other executive officers. On behalf of a fictitious class of buyers of our common shares between September 20, 2017 and September 12, 2018, the plaintiff asks for unspecified damages. We intend to strongly fight the litigation because we think the claims made in the complaint are unfounded. Regardless of whether the plaintiff’s claims are successful, this form of action is frequently expensive and diverts management’s resources, which could negatively impact the operation of our business.
Alnylam Pharmaceuticals, Inc. assumed a note payable and accrued interest of $4,795 to a Ribopharma shareholder upon the acquisition of Ribopharma AG and an obligation to deliver common shares in accordance with prior terms of the note valued at $119; both obligations were included in assumed liabilities at the time of the acquisition. 1,917,857 shares of Series B preferred stock were obtained in return for the $4,538 note payable and the $257 in interest that had accumulated. Furthermore, 94,044 shares of Alnylam Pharmaceuticals, Inc. ordinary stock were issued to fulfill the share obligation. As of December 31, 2003, there were no monies due under this note payable.
We believe that the accompanying consolidated balance sheets and related consolidated statements of operations, changes in redeemable convertible preferred stock, stockholders’ deficit, and cash flows fairly represent the financial position of Alnylam Pharmaceuticals, Inc. (a development stage enterprise) at December 31, 2003 and 2002, as well as the results of its operations and its cash flows for the year ended December 31, 2003 and for the year ended December 31, 2002, in all material respects.
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