Spyre Therapeutics, Inc. Class Action Lawsuit - SYRE

The filed complaint alleges that Spyre Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: On November 18, 2024, Spyre disclosed in a filing with the U.S. Securities and Exchange Commission "that the Company's previously issued audited consolidated financial statements as of December 31, 2023 and for the year and the second and third quarter interim periods within the year then ended, and its unaudited consolidated financial statements for the quarterly and year-to-date (as applicable) periods ended March 31, 2024, June 30, 2024 and 2023, and September 30, 2024 and 2023 (collectively, the ‘Affected Financial Statements' and such periods, the ‘Affected Periods') should no longer be relied upon" due to "a misapplication of Generally Accepted Accounting Principles in the United States . . . as it relates to the Company's exclusion of its Series A and Series B non-voting convertible preferred stock in the calculation of basic and diluted net loss per share and a finding of material weakness in internal control over financial reporting solely related to such matter." Accordingly, Spyre advised that it "intends to file amendments to the Annual Report on Form 10-K and each of the Quarterly Reports on Form 10-Q for the Affected Periods to correct the net loss per share figures as soon as possible." Following this news, Spyre's stock price drastically fell during intraday trading on November 19, 2024.

In order to be eligible to join the SYRE class action lawsuit, you must have incurred a loss on shares of Spyre Therapeutics, Inc. purchased during the class period listed above.