A securities class action lawsuit has been filed against Alto Neuroscience, Inc., alleging violations of federal securities laws. The lawsuit is on behalf of investors who purchased Alto common stock pursuant to the company's initial public offering (IPO) conducted on or about February 2, 2024, and/or between February 2, 2024, and October 22, 2024.
The complaint alleges that Alto Neuroscience and its executives made materially false and/or misleading statements and/or failed to disclose that ALTO-100 was less effective in treating major depressive disorder (MDD) than investors had been led to believe. Consequently, ALTO-100's clinical, regulatory, and commercial prospects were allegedly overstated.
The lawsuit claims that as a result of these alleged misrepresentations, Alto's business and/or financial prospects were overstated, and the company's public statements were materially false and misleading at all relevant times. Investors have until September 19, 2025, to seek the role of lead plaintiff in the federal securities class action.
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