This case was last updated from U.S. District Courts on 08/24/2021 at 09:38:14 (UTC).

Jawandha v. Athira Pharma Inc et al

Case Summary

On June 25th, 2021, Plaintiff Harshdeep Jawandha (“Plaintiff”), individually and on behalf of all others similarly situated, represented by Benjamin T.G. Nivison of Rossi Vucinovich PC, filed a Finance - Security/Commodity/Exchange lawsuit against Goldman Sachs & Co. LLC (“Goldman Sachs”); Jefferies LLC (“Jefferies”); Glenna Mileson (“Mileson”); Joseph Edelman (“Edelman”); JMP Securities LLC (‘JMP”); John M. Fluke (“Fluke”); Jr., Tadataka Yamada (“Yamada”); Dr. Leen Kawas (“Kawas”); Athira Pharma, Inc. (“Athira” or the “Company”); Stifel, Nicolaus & Company, Inc. (“Stifel”); and James A. Johnson (“Johnson”). Defendants Goldman Sachs, Jefferies, Stifel, and JMP are collectively referred to  as the “Underwriter Defendants” and Defendants Kawas, Mileson, Yamada, Edelman, Fluke, and Johnson are collectively referred to as the “Individual Defendants”  Plaintiff seeks damages, as well as other relief, for the Defendants allegedly publishing a false or misleading registration statement (the “Registration Statement”). This case was filed in U.S. District Court in the Western District of Washington with Judge John C. Coughenour presiding.

Plaintiff brings this action on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Athira common stock issued in connection with the Company’s IPO. Excluded from the Class are Defendants, the officers and directors of the Company, at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.

In her complaint, Plaintiff alleged that, “On September 18, 2020, the Company filed its prospectus on Form 424B4 with the SEC, which forms part of the Registration Statement. In the IPO, the Company sold approximately 13,397,712 shares of common stock at a price of $17.00 per share. The Company received proceeds of approximately $208.5 million from the Offering, net of underwriting discounts and commissions. The proceeds from the IPO were purportedly to be used to fund clinical trials for its product candidates for the treatment of mild-to-moderate Alzheimer’s disease, Parkinson’s disease dementia, and neuropathy, as well as research and development activities, working capital, and other general corporate purposes. On June 17, 2021, after the market closed, Athira announced that it had placed its president and Chief Executive Officer, Dr. Leen Kawas (“Kawas”), on leave pending a review of actions stemming from doctoral research she conducted while at Washington State University.”

Plaintiff further alleged that, “On this news, the Company’s share price fell $7.09, or approximately 39%, to close at $11.15 per share on June 18, 2021, on unusually heavy trading volume. By the commencement of this action, the Company’s stock was trading as low as $10.34 per share, a nearly 40% decline from the $17 per share IPO price.” Plaintiff also alleged that, “As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.”

There are two claims for relief laid down by the Plaintiff. The claims alleged are for Violation of Section 11 of the Securities Act, against all Defendants, and Violation of Section 15 of the Securities Act, against the Individual Defendants.  

In her prayer for relief, Plaintiff has requested that the Court determine that this action is a proper class action under Rule 23 of the Federal Rules of Civil Procedure; award compensatory damages in favor of Plaintiff and the other Class members against all defendants, jointly and severally, for all damages sustained as a result of Defendants’ wrongdoing, in an amount to be proven at trial, including interest thereon; award Plaintiff and the Class their reasonable costs and expenses incurred in this action, including counsel fees and expert fees; and award such other and further relief as the Court may deem just and proper.

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Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    2:21-CV-00862

  • Filing Date:

    06/25/2021

  • Case Status:

    Disposed - Other Disposed

  • Case Type:

    Finance - Security/Commodity/Exchange

Judge Details

Presiding Judges

John C. Coughenour

Thomas S. Zilly

 

Party Details

Plaintiff

Harshdeep Jawandha

Defendants

Jefferies LLC

Goldman Sachs & Co. LLC

Glenna Mileson

Joseph Edelman

JMP Securities LLC

John M. Fluke, Jr.

Tadataka Yamada

Leen Kawas

Athira Pharma, Inc.

Stifel, Nicolaus & Company, Incorporated

James A. Johnson

Athira Pharma Inc

John M Fluke Jr

James A Johnson

Goldman Sachs & Co LLC

Stifel Nicolaus & Company Incorporated

Attorney/Law Firm Details

Plaintiff Attorneys

Pavithra Rajesh

Attorney at GLANCY PRONGAY & MURRAY LLP

1925 Century Park East Ste 2100

Los Angeles, CA 90067

Benjamin T.G. Nivison

Attorney at ROSSI VUCINOVICH PC

1000 Second Avenue, Ste 1780

Seattle, WA 98104

Defendant Attorneys

Lianna M Bash

Attorney at DLA PIPER US LLP (WA)

701 Fifth Ave, Ste 6900

Seattle, WA 98104-7044

Anthony Todaro

Attorney at DLA PIPER US LLP (WA)

701 Fifth Ave, Ste 6900

Seattle, WA 98104-7044

Gregory Lewis Watts

Attorney at WILSON SONSINI GOODRICH & ROSATI (WA)

701 Fifth Ave, Ste 5100

Seattle, WA 98104

Jennifer E.K. Kendrex

Attorney at WILSON SONSINI GOODRICH & ROSATI (WA)

701 Fifth Ave, Ste 5100

Seattle, WA 98104

John C Roberts, Jr.

Attorney at WILSON SONSINI GOODRICH & ROSATI (WA)

701 Fifth Ave, Ste 5100

Seattle, WA 98104

Tyre L. Tindall

Attorney at WILSON SONSINI GOODRICH & ROSATI (WA)

701 Fifth Ave, Ste 5100

Seattle, WA 98104

 

Court Documents

#17

#16

#15

#14

#13

#12

#11

#10

1 #12

Summons Stifel, Nicolaus & Company, Incorporated

1 #11

Summons Joseph Edelman

1 #10

Summons John M. Fluke, Jr.

1 #9

Summons JMP Securities LLC

1 #8

Summons Jefferies LLC

1 #7

Summons James A. Johnson

1 #6

Summons Goldman Sachs & Co., LLC

1 #5

Summons Glenna Mileson

1 #4

Summons Dr. Leen Kawas

1 #3

Summons Athira Pharma, Inc.

29 More Documents Available
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Docket Entries

  • 08/09/2021
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  • Docket(#17) MINUTE ORDER: The above-captioned cases are hereby CONSOLIDATED for all purposes. All future pleadings, motions, briefs, and other papers shall be filed only in Case No. C21-861 TSZ. The Clerk is DIRECTED to CLOSE Case Nos. C21-862 TSZ and C21-864 TSZ. Authorized by Judge Thomas S. Zilly. (MW) Modified on 8/9/2021 (SRS). (Entered: 08/09/2021)

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  • 08/06/2021
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  • Docket(#16) NOTICE of Filing Stipulated Motion to Consolidate Related Actions Under Local Rule 42 ; filed by Defendants Athira Pharma Inc, Joseph Edelman, John M Fluke Jr, James A Johnson, Glenna Mileson, Tadataka Yamada. (Watts, Gregory) (Entered: 08/06/2021)

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  • 08/06/2021
  • DocketCase Reassigned to Judge Thomas S. Zilly. U.S. District Judge John C. Coughenour no longer assigned to the case. (GT) (Entered: 08/06/2021)

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  • 07/29/2021
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  • DocketAttorney Lianna M Bash added for Goldman Sachs & Co LLC, JMP Securities LLC, Jefferies LLC, Stifel Nicolaus & Company Incorporated; per #14 Notice of Appearance. (SR) (Entered: 07/30/2021)

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  • 07/29/2021
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  • Docket(#15) CORPORATE DISCLOSURE STATEMENT identifying Corporate Parent Stifel Financial Corp., Other Affiliate BlackRock, Inc. for Stifel Nicolaus & Company Incorporated; Corporate Parent Jefferies Group LLC, Other Affiliate Jefferies Financial Group Inc. for Jefferies LLC; Corporate Parent The Goldman Sachs Group, Inc. for Goldman Sachs & Co LLC; Corporate Parent JMP Holding LLC, Other Affiliate JMP Investment Holdings LLC, Other Affiliate JMP Group Inc., Other Affiliate JMP Group LLC for JMP Securities LLC. Filed pursuant to Fed.R.Civ.P 7.1. Filed by Goldman Sachs & Co LLC, JMP Securities LLC, Jefferies LLC, Stifel Nicolaus & Company Incorporated (Todaro, Anthony) (Entered: 07/29/2021)

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  • 07/29/2021
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  • Docket(#14) NOTICE of Appearance by attorney Anthony Todaro on behalf of Defendants Goldman Sachs & Co LLC, JMP Securities LLC, Jefferies LLC, Stifel Nicolaus & Company Incorporated. (Todaro, Anthony) (Entered: 07/29/2021)

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  • 07/29/2021
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  • Docket(#13) ORDER granting Parties' #12 Stipulated Motion to Extend Time to Respond to the Complaint and Adjourn Status Conference. Within fourteen (14) days of the Court's Order for the appointment of Lead Plaintiff and approval of Lead Counsel, pursuant to 15 U.S.C. 77z-1(a)(3)(B), Lead Plaintiff and the Defendants shall meet and confer and submit a schedule for the filing of a consolidated complaint or designation of an operative complaint, and a briefing schedule for Defendants' anticipated motion(s) to dismiss. The October 12, 2021 status conference as set forth in the Status Order is adjourned for the time being. Signed by U.S. District Judge John C. Coughenour.(SR) (Entered: 07/29/2021)

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  • 07/29/2021
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  • Docket(#12) Stipulated MOTION to Extend Time to Respond to the Complaint and Adjourn Status Conference, filed by Defendants Athira Pharma Inc, Joseph Edelman, John M Fluke Jr, James A Johnson, Glenna Mileson, Tadataka Yamada. Noting Date 7/29/2021, (Watts, Gregory) (Entered: 07/29/2021)

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  • 07/28/2021
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  • DocketAttorneys John C Roberts, Jr, Jennifer E.K. Kendrex, Tyre L. Tindall added for for Athira Pharma, Inc., Glenna Mileson, Tadataka Yamada, Joseph Edelman, John M. Fluke, Jr., and James A. Johnson, per #10 Notice of Appearance. (SR) (Entered: 07/29/2021)

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  • 07/28/2021
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  • Docket(#11) CORPORATE DISCLOSURE STATEMENT indicating no Corporate Parents and/or Affiliates. Filed pursuant to Fed.R.Civ.P 7.1. Filed by Athira Pharma Inc (Watts, Gregory) (Entered: 07/28/2021)

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1 More Docket Entries
  • 07/19/2021
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  • Docket(#9) ORDER re #8 Application for Leave to Appear Pro Hac Vice. The Court ADMITS Attorney Pavithra Rajesh for Plaintiff Harshdeep Jawandha, by Clerk Ravi Subramanian. No document associated with this docket entry, text only.NOTE TO COUNSEL: Local counsel agrees to sign all filings and to be prepared to handle the matter, including the trial thereof, in the event the applicant is unable to be present on any date scheduled by the court, pursuant to LCR 83.1(d).(DS) (Entered: 07/19/2021)

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  • 07/14/2021
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  • Docket(#8) APPLICATION OF ATTORNEY Pavithra Rajesh FOR LEAVE TO APPEAR PRO HAC VICE for Plaintiff Harshdeep Jawandha (Fee Paid) Receipt No. AWAWDC-7165566 (Nivison, Benjamin) (Entered: 07/14/2021)

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  • 07/14/2021
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  • Docket(#7) APPLICATION OF ATTORNEY Charles H. Linehan FOR LEAVE TO APPEAR PRO HAC VICE for Plaintiff Harshdeep Jawandha (Fee Paid) Receipt No. AWAWDC-7165527 (Nivison, Benjamin) (Entered: 07/14/2021)

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  • 06/30/2021
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  • Docket(#6) DEMAND for JURY TRIAL by Plaintiff Harshdeep Jawandha (Nivison, Benjamin) (Entered: 06/30/2021)

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  • 06/29/2021
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  • Docket(#5) MINUTE ENTRY re: STATUS CONFERENCE. The attorney who will be responsible for trying the case, or that attorney's representative, should attend the conference and be prepared to discuss the following matters at the conference: 1. An estimate of the number of days needed for trial; 2. The date by which the case will be ready for trial; 3. Whether the parties intend to mediate per LCR 39.1 and, if so, when the parties expect to complete mediation; If counsel's office is outside of the Greater Metropolitan Seattle area, local counsel should attend on behalf of non-local counsel. If local counsel is unavailable, non-local counsel may make arrangements to participate telephonically in the conference by contacting the Courtroom Deputy Clerk at Gabriel_Traber@wawd.uscourts.gov at least TEN (10) DAYS in advance of the proceeding. Counsel do NOT need to file a Joint Status Report or Rule 26(f) Report in advance of the Status Conference. Counsel should plan on arriving 10-15 minutes early to check in with the Courtroom Deputy Clerk as the Court's calendar begins promptly at 9:00 a.m. COUNSEL OR THE PRO SE PARTY WHO FILED THIS MATTER SHALL IMMEDIATELY NOTIFY ALL PARTIES OF THE DATE AND TIME OF THE SCHEDULED STATUS CONFERENCE. Status Conference set for 10/12/2021 at 09:00 AM in Courtroom 16206 before U.S. District Judge John C. Coughenour. (GT) (Entered: 06/29/2021)

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  • 06/29/2021
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  • Docket(#4) ORDER REGARDING DISCOVERY AND DEPOSITIONS by U.S. District Judge John C. Coughenour. (GT) (Entered: 06/29/2021)

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  • 06/28/2021
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  • Docket(#3) Summons(es) Electronically Issued as to defendant(s) Athira Pharma Inc, Joseph Edelman, John M Fluke Jr, Goldman Sachs & Co LLC, JMP Securities LLC, Jefferies LLC, James A Johnson, Leen Kawas, Glenna Mileson, Stifel Nicolaus & Company Incorporated, Tadataka Yamada. (Attachments: #1 Summons, #2 Summons, #3 Summons, #4 Summons, #5 Summons, #6 Summons, #7 Summons, #8 Summons, #9 Summons, #10 Summons)(RE) (Entered: 06/28/2021)

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  • 06/28/2021
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  • Docket(#2) Notice of Filing Deficiency ***Action Required*** Pro Hac Vice Admission, Jury Demand Improperly Indicated.See attached letter for more information and instructions. (RE) (Entered: 06/28/2021)

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  • 06/28/2021
  • DocketU.S. District Judge John C. Coughenour added. (RE) (Entered: 06/28/2021)

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  • 06/25/2021
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  • Docket(#1) COMPLAINT against All Defendants with JURY DEMAND (Receipt # AWAWDC-7141563) Attorney Benjamin T.G. Nivison added to party Harshdeep Jawandha(pty:pla), filed by Harshdeep Jawandha. (Attachments: #1 Exhibit 1, #2 Civil Cover Sheet, #3 Summons Athira Pharma, Inc., #4 Summons Dr. Leen Kawas, #5 Summons Glenna Mileson, #6 Summons Goldman Sachs & Co., LLC, #7 Summons James A. Johnson, #8 Summons Jefferies LLC, #9 Summons JMP Securities LLC, #10 Summons John M. Fluke, Jr., #11 Summons Joseph Edelman, #12 Summons Stifel, Nicolaus & Company, Incorporated, #13 Summons Tadataka Yamada)(Nivison, Benjamin) (Entered: 06/25/2021)

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