Levi & Korsinsky, LLP has filed a class action lawsuit against ARS Pharmaceuticals, Inc. on behalf of investors who purchased ARS securities between March 9, 2026 and June 24, 2026. The complaint alleges that the company made materially false and misleading statements about the expected timeline for expanded insurance coverage of its neffy product through CVS Caremark. On June 24, 2026, ARS disclosed that it did not receive expanded coverage by the guided July 1, 2026 deadline, and that CVS Caremark reserved its decision until January 2027. Following this news, ARS shares fell from $10.54 to $8.02, a decline of over 23.9% in a single day. Investors have until October 5, 2026 to seek appointment as lead plaintiff in the case, which is pending in the United States District Court for the Southern District of California.
ARS Pharmaceuticals, IncClass action lawsuit alleging false statements about insurance coverage timeline; shares fell 23.9%.
