An Unexpected Twist
The veil of suspicion has descended upon Allarity Therapeutics, Inc. as The Law Offices of Frank R. Cruz revealed that a cloud of doubt looms over the company. Allegations related to potential breaches of federal securities laws have cast a dark shadow over this once-promising entity.
The Ground-Shaking Disclosure
July 22, 2024, marked a seismic event for Allarity Therapeutics when it came to light, through a public disclosure, that the U.S. Securities and Exchange Commission had bestowed upon the company a Wells Notice. The notice pertained to the firm’s purported discussions with the U.S. Food and Drug Administration regarding the New Drug Application (NDA) for its pharmaceutical, Dovitnib, which had been submitted in 2021.
A Glimpse into the Implications
Additionally, three former officers of Allarity Therapeutics found themselves at the receiving end of Wells Notices. These documents allege that the SEC Staff is contemplating recommending an enforcement action against the company for purported violations of federal securities laws.
Seeking Clarity in the Midst of Chaos
For shareholders who have borne the brunt of this turmoil, The Law Offices of Frank R. Cruz offer a ray of hope. By extending the opportunity to participate in the investigation, they aim to shed light on the matter and provide a sense of closure to those affected.
Should you find yourself entangled in the web of uncertainty surrounding Allarity Therapeutics, reach out to Frank R. Cruz, situated at 2121 Avenue of the Stars, Suite 800, Century City, California 90067. Alternatively, connect via email at info@frankcruzlaw.com or visit their official website for further information.