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AlloVir Investors Receive Proposed Settlement Approval in Class Action Lawsuit.
ByAinvest
Thursday, Jun 5, 2025 8:05 am ET1min read
The US District Court for Massachusetts has approved a proposed class action settlement for AlloVir, Inc. (NASDAQ: KLRS) securities buyers from January 11, 2023 to December 21, 2023. The settlement aims to benefit those who purchased AlloVir securities during this period. Certain individuals and entities are excluded from the Settlement Class as per the Stipulation and Agreement of Settlement, dated April 14, 2025.
The United States District Court for the District of Massachusetts has approved a proposed class action settlement for purchasers of AlloVir, Inc. (NASDAQ: KLRS) securities from January 11, 2023, to December 21, 2023. The settlement, valued at $1,000,000, aims to benefit those who purchased AlloVir securities during this period. The settlement was reached between the Court-appointed Lead Plaintiffs and the defendants, including AlloVir, Diana M. Brainard, and Vikas Sinha [1].A hearing will be held on July 30, 2025, at 2:30 p.m., to determine whether to approve the proposed settlement as fair, reasonable, and adequate. The hearing will also consider dismissing the action with prejudice, certifying the class action, and approving attorneys’ fees. Settlement Class members are eligible to receive a monetary payment if they submit a valid Claim Form by August 19, 2025 [1].
Certain individuals and entities are excluded from the Settlement Class as outlined in the Stipulation and Agreement of Settlement, dated April 14, 2025. Those interested in more details about the settlement can visit the settlement website at www.strategicclaims.net/allovir/ or contact the Claims Administrator [1].
In other news, Kalaris Therapeutics (KKLRS), which acquired AlloVir, reported a $101M cash reserve at the end of Q1 2025, up from $1.6M at year-end 2024, due to the merger. The company is currently enrolling patients in a Phase 1 trial of TH103, a novel anti-VEGF therapy for retinal diseases like nAMD, with initial data expected in Q4 2025 [2].
References:
[1] https://www.globenewswire.com/news-release/2025/06/05/3094338/0/en/Bernstein-Liebhard-LLP-Announces-Proposed-Class-Action-Settlement-on-Behalf-of-Purchasers-of-AlloVir-Inc-Securities.html
[2] https://www.tradingview.com/news/11thestate:2bfd792fe094b:0-kalaris-phase-1-trial-for-th103-advances-following-allovir-merger-and-other-important-updates/
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