The complaint filed by Robbins LLP alleges that ARS Pharmaceuticals executives publicly expressed confidence that neffy would receive expanded coverage by July 1, 2026, ensuring the product was positioned for the peak summer and back-to-school allergy seasons. However, the suit claims the company failed to disclose the significant risk that this deadline would be missed. The reality surfaced on June 24, 2026, when the company revealed that CVS Caremark had deferred its decision on coverage until January 2027. Following the announcement, ARS shares plummeted from $10.54 to $8.02 per share in a single day.

Investors who purchased securities between March 9 and June 24, 2026, are eligible to join the class action. Those seeking to serve as lead plaintiff must file their applications with the court by October 5, 2026. Robbins LLP operates on a contingency fee basis, meaning participants do not incur personal legal expenses. Interested parties may contact attorney Aaron Dumas, Jr. for further details regarding the litigation process.