Alto Neuroscience(US:ANRO) Globenewswireยท2025-09-17 21:46Core Viewpoint - A class action lawsuit has been filed against Alto Neuroscience, Inc. for allegedly misleading investors regarding the effectiveness of its treatment ALTO-100 for Major Depressive Disorder (MDD) [8]. Group 1: Allegation Details - The lawsuit claims that the Offering Documents for Alto's IPO were negligently prepared and that the company failed to disclose critical information about ALTO-100's effectiveness [8]. - Specifically, it is alleged that ALTO-100 was less effective in treating MDD than previously communicated, leading to overstated clinical, regulatory, and commercial prospects [8]. Group 2: Stock Price Impact - Following the announcement of the Phase 2b trial results on October 22, 2024, which indicated that ALTO-100 did not meet its primary endpoint, Alto's stock price plummeted by $10.17 per share, a decrease of 69.99%, closing at $4.36 per share on October 23, 2024 [8]. Group 3: Legal Process - Investors who purchased Alto securities between February 2, 2024, and October 22, 2024, have until September 19, 2025, to apply to be appointed as lead plaintiff in the lawsuit [8].