NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against ACELYRIN, Inc. (“Acelyrin” or the “Company”) (NASDAQ: SLRN) for violations of the federal securities laws on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Acelyrin securities between May 4, 2023 and September 11, 2023, both dates inclusive (the “Class Period”).

On November 15, 2023, a complaint was filed against the Company and certain of its former and current officers and director alleging that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) izokibep was less effective in treating HS than Defendants had led investors to believe; (ii) accordingly, Acelyrin overstated izokibep’s clinical and/or commercial prospects; (iii) as a result, Acelyrin also overstated the Company’s business prospects post-IPO; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

When investors learned the truth, Acelyrin’s common stock declined precipitously, injuring investors.

If you suffered a loss of more than $50,000 in Acelyrin’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).

Any investor who wishes to serve as Lead Plaintiff must act before January 16, 2024.

About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.

Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com

SOURCE: Lowey Dannenberg P.C.