Akin Team Named an AmLaw Litigator of the Week Runner-Up for Securities Class Action Jury Trial Victory

The American Lawyer’s Litigation Daily named an Akin team runner-up in its Litigator of the Week series following a jury trial victory in a securities class action. The team represented Armistice Capital, which was exonerated from claims involving alleged securities fraud and insider trading in the U.S. District Court for the Northern District of California, in the case In re: Vaxart, Inc. Securities Litigation.

On April 28, 2026, following a three-week trial, a California federal jury issued a verdict exonerating Akin’s clients Armistice and two of its executives on securities class action claims involving alleged securities fraud and insider trading. In substance, the claims alleged that the defendants had pumped and dumped in excess of $250 million worth of Vaxart stock during the COVID-19 pandemic through, among other things, the issuance of false press releases regarding the issuer’s vaccine research. The jury deliberated for less than four hours over two days before reaching its verdict. 

The Akin team included white collar defense & government investigations co-head Chuck Connolly, funds litigation partner Kate Shapiro, environmental partner Stacey Mitchell, funds litigation partner Douglas Rappaport, counsel Josh Rubin and David Giller and associates Lillian Rand and Harris Stephens.

For additional information on the win, please click here.