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Rosi v. Alcaris Therapeutics Inc.

Securities Fraud Actions Consolidated, Lead Plaintiff, Class Counsel Approved

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ADDITIONAL CASES Robert Fulcher, individually and on behalf of all others similarly situated, Plaintiff v. Alcaris Therapeutics, Inc., Neal Walker, and Frank Ruffo, Defendants; 19-CV-8284 OPINION AND ORDER Plaintiffs Linda Rosi and Robert Fulcher filed separate securities fraud class actions earlier this year against Alcaris Therapeutics, Inc., its President and Chief Executive Officer Neal Walker, and its Chief Financial Officer Frank Ruffo, alleging that they violated Sections 10(b) and 20(a) of the Securities Exchange Act as well as Securities and Exchange Commission Rule 10b-5. Pending before the Court are motions by Rosi and Fulcher seeking (1) consolidation of their respective actions; (2) appointment as lead plaintiff; and (3) approval of lead counsel. For the reasons explained below, Fulcher’s motion is granted in its entirety and Rosi’s motion is granted to the extent she seeks consolidation but is otherwise denied.¹ I. BACKGROUND Plaintiff Linda Rosi filed suit on July 30, 2019 (Rosi v. Alcaris Therapeutics, Inc. et al., No. 19-CV-7118 (LTS) (JLC)), and Plaintiff Robert Fulcher filed the second action on September 5, 2019 (Fulcher v. Alcaris Therapeutics, Inc. et al, No. 19-CV-8284 (LTS) (JLC)). Plaintiffs in both cases allege violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, 15 U.S.C. §§78(j)(b) and 78(t), and Rule 10b-5 promulgated thereunder, 17 C.F.R. §240.10b-5. See Rosi Complaint (“Rosi Compl.”), No. 19-CV-7118, Dkt. No. 1,

49-63; Fulcher Complaint (“Fulcher Compl.”), No. 19-CV-8284, Dkt. No. 1,

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