#USA #New York #Class Action #Securities Fraud #BioAge Labs

Legal Update: BioAge Labs Faces Securities Class Action

In a significant development, Levi & Korsinsky, LLP has alerted BioAge Labs, Inc. investors about an upcoming class action lawsuit. This legal move stems from allegations of securities fraud that have adversely impacted BioAge's investors, especially those who purchased stock during the company's initial public offering (IPO) on September 26, 2024.

Class Action Details

The lawsuit claims damages for shareholders who bought shares tied to the IPO registration statement. The allegations arose after BioAge announced on December 6, 2024, that it would halt the ongoing STRIDES Phase 2 trial for its leading product candidate, azelaprag. This decision shocked the market, as BioAge had previously highlighted the drug's potential for treating patients undergoing obesity therapy with incretin drugs. Following this announcement, BioAge's stock price plummeted from $20.09 per share to $4.65 within a day, marking a devastating loss for many investors.

What Investors Should Know

Shareholders who suffered losses related to BioAge's shares during this critical period have until March 10, 2025, to request appointment as lead plaintiff in the case. It is essential to note that participation in the case does not require being a lead plaintiff; any affected party can share in potential recoveries without incurring legal costs.

Additionally, Levi & Korsinsky emphasizes that stakeholders need not pay any out-of-pocket expenses to join the lawsuit, making this an accessible opportunity for those impacted.

The Experience of Levi & Korsinsky

With a two-decade-long track record in shareholder advocacy, Levi & Korsinsky has secured significant settlements for investors. The firm is well-known for its expertise in complex securities litigation and has been recognized as one of the top firms in this field according to the ISS Securities Class Action Services' Top 50 Report for seven consecutive years.

Their team, comprising over 70 legal professionals, is prepared to assist affected investors in navigating this complex legal terrain. Current stakeholders of BioAge are encouraged to reach out to Joseph E. Levi, Esq. directly via email or phone to discuss their legal options and to learn more about how they can participate in the ongoing litigation.

For those interested, additional information can be obtained through the provided link that leads to Levi & Korsinsky's official page regarding the class action against BioAge Labs. Shareholders are advised to stay informed as this situation evolves, particularly those who made investments in BioAge according to the company's IPO registration.

Conclusion

The situation regarding BioAge Labs highlights the volatility that can affect publicly-traded companies and the importance of transparency in corporate communications. As shareholders navigate this tumultuous phase, they should consider their legal options carefully and take prompt action to safeguard their investments. Remember, the deadline is approaching, and every affected investor should weigh their choices in light of this class action lawsuit.