Allarity Therapeutics reaches $2.5M SEC settlement over Dovitinib disclosure issues

Allarity Therapeutics, Inc.

Agreed in principle with SEC to pay $2.5M civil penalty and consent to cease-and-desist order for non-scienter securities law violations.
Investigation concerns company's disclosures about FDA meetings for Dovitinib NDA submitted in 2021.
Three former officers received Wells Notices; company has accrued ~$1.8M for their legal fees, with insurance coverage subject to $3.5M retention.
Settlement is subject to final language and SEC approval; company must cooperate in any future SEC litigation.

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