#United States #New York #Pomerantz LLP #Viking Therapeutics #VKTX

Pomerantz Law Firm Launches Investigation into Viking Therapeutics

Pomerantz LLP, a leading law firm known for its work in securities class actions, has initiated an investigation on behalf of investors in Viking Therapeutics, Inc. (NASDAQ: VKTX). This inquiry is centered around potential unlawful business practices and securities fraud by the company and certain executives or directors.

Background on the Investigation

The investigation comes on the heels of an announcement made by Viking Therapeutics regarding positive trial results for its anti-obesity drug, VK2735. This significant update was shared during the Obesity Week medical conference on November 3, 2024, and subsequently resulted in a 9% increase in Viking’s stock price during trading on November 4, 2024. However, this optimistic outlook was met with swift scrutiny from market analysts.

While the initial trial data suggested promise for VK2735 as a new treatment option, concerns quickly arose regarding the feasibility of its production, particularly for higher dosages of 100mg or more. Reports from Deutsche Bank indicated that scaling production could pose financial challenges that exceed the resources and expertise available even to giant companies like Eli Lilly and Novo Nordisk.

Post-analyst evaluations led to a sharp decline in Viking's stock valuation, with shares plummeting by $9.74, or 13.36%, closing at $63.14 on the same day. These abrupt market movements are now under scrutiny, raising questions about the integrity of the information provided by Viking management.

The Role of Pomerantz LLP

Pomerantz LLP is highly regarded in the field of corporate and securities law, featuring a history of representing victims of corporate malpractice. Founded by pioneer Abraham L. Pomerantz, the firm has a legacy of achieving substantial settlements on behalf of class action plaintiffs. With operations in global financial centers like New York, Los Angeles, and London, Pomerantz seeks to safeguard the rights of investors affected by potential misconduct within publicly traded companies.

As part of this investigation, investors are encouraged to reach out to Danielle Peyton of Pomerantz at [email protected] or through her direct line at 646-581-9980, ext. 7980.

In recent years, class action lawsuits have become a pivotal mechanism for holding corporations accountable for misleading investors, and Pomerantz's investigation aligns with this broader trend. If misconduct is proven, it could lead to substantial consequences for Viking Therapeutics, reflecting a critical juncture for both the firm and its stakeholders.

Conclusion

Investors must remain vigilant and informed as Pomerantz LLP investigates these claims. The current investigation highlights the importance of transparency and accountability in the medical and pharmaceutical industry, particularly when it comes to new therapeutic treatments and drug development. Stakeholders following Viking Therapeutics will be keenly observing the outcome of this inquiry, as it may greatly influence the company's trajectory and investor trust moving forward.