Legal Proceedings
−Removed: On May 6, 2024, a class action complaint was filed in federal district court in the District of Maryland, Southern Division, naming as defendants us and three of our executive officers, which is now captioned In re Altimmune, Inc.
−Removed: Securities Litigation, No.
−Removed: 24-cv-01315 (D.
−Removed: Md.) (the “Class Action”).
−Removed: The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 thereunder, by making false and misleading statements and omissions of material fact to the investing public including the plaintiff and class members, who purchased or otherwise acquired our common stock between December 1, 2023 and April 26, 2024.
−Removed: The plaintiff and class members seek to have the action maintained as a class action under Rule 23 of the Federal Rules of Civil Procedure and for the defendants to pay damages, interest, and an award of costs, including attorneys’ fees.
−Removed: A substantially similar
−Removed: complaint, captioned Campanile v.
−Removed: Altimmune, Inc., et al.
−Removed: 8:24-cv-01918 (D.
−Removed: Md.), was also filed in the same court by another plaintiff on July 1, 2024 against the Company and three of its executive officers, based upon the same general set of allegations and class period.
−Removed: On October 2, 2024, the court consolidated the Campanile action with the Class Action for all purposes and appointed lead plaintiffs for the consolidated litigation.
−Removed: On October 18, 2024, the court entered a scheduling order for the filing of an amended complaint on or by December 16, 2024 and any response to that amended complaint, including motions to dismiss, to follow thereafter.
−Removed: We intend to vigorously defend against this class action litigation.
On June 4, 2024, a shareholder derivative complaint was filed in federal district court in the District of Delaware, purportedly on behalf of us, naming as defendants three of our executive officers and eight of our board members, which is now captioned In re Altimmune, Inc.
2 unchanged sentences
Del.) (the “Derivative Action”).
−Removed: The complaint is based upon allegations that are similar to those alleged in the Class Action and alleges claims for contribution, breaches of fiduciary duty, unjust enrichment, and waste of corporate assets based on the defendants purportedly making or causing to be made false and misleading statements and omissions of material fact between December 1, 2023 and April 26, 2024.
+Added: The complaint is based upon allegations that are similar to those alleged in a class action complaint previously filed against us In re Altimmune, Inc.
+Added: Securities Litigation , No.
+Added: 24-cv-01315 (D.
+Added: Md.) (the “Class Action”) and alleges claims for contribution, breaches of fiduciary duty, unjust enrichment, and waste of corporate assets based on the defendants purportedly making or causing to be made false and misleading statements and omissions of material fact between December 1, 2023 and April 26, 2024.
The complaint seeks unspecified monetary relief, exemplary damages, restitution, contribution, and costs, as well as equitable relief.
4 unchanged sentences
These actions were consolidated for all purposes on July 18, 2024 into the Derivative Action.
−Removed: On September 12, 2024, the court stayed the Derivative Action until the earlier of the following:
−Removed: (a) the Class Action is dismissed with prejudice, and all appeals related thereto have been exhausted;
−Removed: or (b) defendants file an answer to any complaint in the Class Action.
−Removed: We intend to vigorously defend against the Derivative Action.
+Added: On February 3, 2025, pursuant to a joint stipulation of the parties, the court ordered that the Derivative Action be dismissed without prejudice and the case was closed.
From time to time, we may be involved in various legal proceedings or investigations, which could be costly and impose a significant burden on management and employees.
The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors.
−Removed: There have been no material changes from the risk factors disclosed in our Annual Report on Form 10-K filed with the SEC on March 27, 2024.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Default upon Senior Securities
−Removed: Mine Safety Disclosures
−Removed: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.