SBS says it is advising investors in ARS Pharmaceuticals securities lawsuit

Schall, Brown & Schwartz LLP said it is advising investors in a proposed securities-fraud class action against ARS Pharmaceuticals over claims tied to neffy’s insurance coverage timeline and CVS Caremark formulary timing.

PR Newswire said on Sept. 8, 2026, that Schall, Brown & Schwartz LLP is reminding investors about a class action lawsuit against ARS Pharmaceuticals, Inc. and its stock, NASDAQ: SPRY. The release says shareholders who bought SPRY shares during the class period of March 9, 2026, through June 24, 2026, may contact the firm about possible lead plaintiff appointments.

The release says the complaint alleges violations of Section 10(b), Section 20(a), and SEC Rule 10b-5 under the Securities Exchange Act of 1934. It says ARS made false and misleading statements to the market about neffy, including the timeline for CVS Caremark’s addition of the drug to its formulary and the timing of insurance coverage.

The release says ARS knew or recklessly disregarded risks tied to those timeline issues and that the company’s guidance on insurance coverage for neffy could change. It also says the public statements were false and materially misleading throughout the class period and that investors suffered damages when the market learned the truth.

The PR Newswire release says the class has not yet been certified, and investors are not represented by an attorney until certification occurs.

The release identifies Brian Schall and David Schwartz as contacts at the firm and describes Schall, Brown & Schwartz as a securities class action and shareholder rights litigation firm. It includes an attorney-advertising disclaimer.

The release says shareholders who purchased SPRY shares during the class period may reach out to the firm about possible lead plaintiff appointments. It adds that lead plaintiff status is not required to share in any recovery.

Sources

• PR Newswire release: “SPRY Investors Have Opportunity to Lead ARS Pharmaceuticals, Inc. Securities Fraud Lawsuit with SBS Law”

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.