{"success":true,"data":{"pressRelease":{"id":"160755","rtpr_id":"nBw2HZMLVa-20261005","ticker":"SPRY","exchange":"NASDAQ","all_tickers":["SPRY"],"title":"SPRY Investors Have Opportunity to Lead ARS Pharmaceuticals, Inc. Securities Fraud Lawsuit with SBS Law","author":"Business Wire","published_at":"2026-10-05T14:08:00.084Z","article_body":"SPRY Investors Have Opportunity to Lead ARS Pharmaceuticals, Inc. Securities\nFraud Lawsuit with SBS Law\n\nSchall, Brown & Schwartz LLP\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2F&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=Schall%2C+Brown+%26amp%3B+Schwartz+LLP&index=1&md5=cd446d97f33f38390cf8a6fd20713dd2)\n(“SBS”), a national shareholder rights litigation firm, reminds investors\nof a class action lawsuit against ARS Pharmaceuticals, Inc. (“ARS” or\n“the Company”) (NASDAQ: SPRY\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FSPRY&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=SPRY&index=2&md5=6b4fd5dad89710a15c740942e3b313ed)\n) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934\nand Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange\nCommission.\n\nShareholders who purchased shares of SPRY during the class period listed are\nencouraged to contact the firm regarding possible lead plaintiff appointments.\nAppointment as lead plaintiff is not required to partake in any recovery.\n\nCLASS PERIOD: March 9, 2026 to June 24, 2026\n\nDEADLINE: October 5, 2026\n\nIf you are a shareholder who suffered a loss, click here to participate\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fars-pharmaceuticals-inc-3%2F&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=click+here+to+participate&index=3&md5=38de11c0bd2d51e510fcac5f69d184e8)\n.\n\nCASE DETAILS: According to the Complaint, the Company made false and\nmisleading statements to the market. ARS knew or recklessly disregarded the\nrisk of timeline problems related to CVS Caremark’s addition of neffy to its\nformulary. The Company’s guidance on the timeline for insurance coverage for\nneffy may shift considerably, impacting its commercialization. Based on these\nfacts, the Company’s public statements were false and materially misleading\nthroughout the class period. When the market learned the truth about ARS,\ninvestors suffered damages.\n\nWe also encourage you to contact Brian Schall or David Schwartz of Schall,\nBrown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA\n90067, at 310-301-3335, to discuss your rights free of charge. You can also\nreach us through the firm's website at www.schallfirm.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fpr.report%2FmIwBkOrU&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=www.schallfirm.com&index=4&md5=cd29b1ff3f3c84403245319ae0d22044)\n, or by email at david@schallfirm.com (mailto:david@schallfirm.com) .\n\nThe class, in this case, has not yet been certified, and until certification\noccurs, you are not represented by an attorney. If you choose to take no\naction, you can remain an absent class member.\n\nJoin the case\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fars-pharmaceuticals-inc-3%2F&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=Join+the+case&index=5&md5=4cf6c4d23c9faa3bf1ed291ec4db8490)\nto recover your losses\n\nWHY SBS? Schall, Brown & Schwartz LLP represents investors around the\nworld and specializes in securities class action lawsuits and shareholder\nrights litigation. Bringing together the extensive experience and diverse\nskillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz,\nSBS is dedicated to aggressively advocating for every investor.\n\nThis press release may be considered Attorney Advertising in some\njurisdictions under the applicable law and rules of ethics.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261005313580/en/\n(https://www.businesswire.com/news/home/20261005313580/en/)\n\nSchall, Brown & Schwartz LLP\n\nBrian Schall, Esq.,\n\nAndrew Brown, Esq.,\n\nDavid Schwartz, Esq.,\n\nwww.schallfirm.com \n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.schallfirm.com&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=www.schallfirm.com&index=6&md5=dea9a8bffba07aeafbe8b9feea5d7d5d)\n\nOffice: 310-301-3335\n\ninfo@schallfirm.com (mailto:info@schallfirm.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw2HZMLVa-20261005","title":"SPRY Investors Have Opportunity to Lead ARS Pharmaceuticals, Inc. Securities Fraud Lawsuit with SBS Law","author":"Business Wire","ticker":"SPRY","created":"2026-10-05T14:08:00.084Z","tickers":["SPRY"],"exchange":"NASDAQ","article_body":"SPRY Investors Have Opportunity to Lead ARS Pharmaceuticals, Inc. Securities\nFraud Lawsuit with SBS Law\n\nSchall, Brown & Schwartz LLP\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2F&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=Schall%2C+Brown+%26amp%3B+Schwartz+LLP&index=1&md5=cd446d97f33f38390cf8a6fd20713dd2)\n(“SBS”), a national shareholder rights litigation firm, reminds investors\nof a class action lawsuit against ARS Pharmaceuticals, Inc. (“ARS” or\n“the Company”) (NASDAQ: SPRY\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FSPRY&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=SPRY&index=2&md5=6b4fd5dad89710a15c740942e3b313ed)\n) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934\nand Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange\nCommission.\n\nShareholders who purchased shares of SPRY during the class period listed are\nencouraged to contact the firm regarding possible lead plaintiff appointments.\nAppointment as lead plaintiff is not required to partake in any recovery.\n\nCLASS PERIOD: March 9, 2026 to June 24, 2026\n\nDEADLINE: October 5, 2026\n\nIf you are a shareholder who suffered a loss, click here to participate\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fars-pharmaceuticals-inc-3%2F&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=click+here+to+participate&index=3&md5=38de11c0bd2d51e510fcac5f69d184e8)\n.\n\nCASE DETAILS: According to the Complaint, the Company made false and\nmisleading statements to the market. ARS knew or recklessly disregarded the\nrisk of timeline problems related to CVS Caremark’s addition of neffy to its\nformulary. The Company’s guidance on the timeline for insurance coverage for\nneffy may shift considerably, impacting its commercialization. Based on these\nfacts, the Company’s public statements were false and materially misleading\nthroughout the class period. When the market learned the truth about ARS,\ninvestors suffered damages.\n\nWe also encourage you to contact Brian Schall or David Schwartz of Schall,\nBrown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA\n90067, at 310-301-3335, to discuss your rights free of charge. You can also\nreach us through the firm's website at www.schallfirm.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fpr.report%2FmIwBkOrU&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=www.schallfirm.com&index=4&md5=cd29b1ff3f3c84403245319ae0d22044)\n, or by email at david@schallfirm.com (mailto:david@schallfirm.com) .\n\nThe class, in this case, has not yet been certified, and until certification\noccurs, you are not represented by an attorney. If you choose to take no\naction, you can remain an absent class member.\n\nJoin the case\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fars-pharmaceuticals-inc-3%2F&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=Join+the+case&index=5&md5=4cf6c4d23c9faa3bf1ed291ec4db8490)\nto recover your losses\n\nWHY SBS? Schall, Brown & Schwartz LLP represents investors around the\nworld and specializes in securities class action lawsuits and shareholder\nrights litigation. Bringing together the extensive experience and diverse\nskillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz,\nSBS is dedicated to aggressively advocating for every investor.\n\nThis press release may be considered Attorney Advertising in some\njurisdictions under the applicable law and rules of ethics.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261005313580/en/\n(https://www.businesswire.com/news/home/20261005313580/en/)\n\nSchall, Brown & Schwartz LLP\n\nBrian Schall, Esq.,\n\nAndrew Brown, Esq.,\n\nDavid Schwartz, Esq.,\n\nwww.schallfirm.com \n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.schallfirm.com&esheet=54616260&newsitemid=20261005313580&lan=en-US&anchor=www.schallfirm.com&index=6&md5=dea9a8bffba07aeafbe8b9feea5d7d5d)\n\nOffice: 310-301-3335\n\ninfo@schallfirm.com (mailto:info@schallfirm.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-05T14:08:00.122385299Z","server_sent_at_ms":1791209280122},"received_at":"2026-10-05T14:08:00.173Z","source_url":"https://www.businesswire.com/news/home/20261005313580/en/"},"analysis":{"id":"149309","press_release_id":"160755","analysis_json":{"industry":{"label":"Pharmaceuticals, Biotechnology & Life Sciences","sector":"Health Care"},"redFlags":["ongoing securities fraud class action against the company","allegations that neffy insurance-coverage timeline guidance may shift considerably"],"eventType":"legal_litigation","narrative":"Schall, Brown & Schwartz LLP issued a shareholder-solicitation notice reminding SPRY investors of a securities fraud class action with an October 5, 2026 lead plaintiff deadline.\n\nThe complaint alleges ARS Pharmaceuticals misled investors about the timeline for CVS Caremark adding neffy to its formulary, with insurance-coverage timing potentially shifting considerably and impacting commercialization.\n\nThe class period runs from March 9, 2026 to June 24, 2026; the class has not been certified and this is law-firm marketing rather than an issuer disclosure.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress; note underlying neffy formulary-timeline allegations only if corroborated."},"keyFigures":{"customDimensions":{"class_period":"March 9, 2026 to June 24, 2026","lead_plaintiff_deadline":"October 5, 2026"}},"quotedText":"ARS knew or recklessly disregarded the risk of timeline problems related to CVS Caremark’s addition of neffy to its formulary.","namedEntities":{"people":[{"name":"Brian Schall","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"Andrew Brown","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"David Schwartz","role":"founding partner, Schall, Brown & Schwartz LLP"}],"products":["neffy"],"companies":[{"name":"ARS Pharmaceuticals, Inc.","ticker":"SPRY","relationship":"class action defendant / named issuer"},{"name":"Schall, Brown & Schwartz LLP","relationship":"plaintiff law firm"},{"name":"CVS Caremark","relationship":"pharmacy benefit manager cited in allegations"}],"dollarAmounts":[]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation by Schall, Brown & Schwartz LLP seeking lead plaintiffs for a securities class action against ARS Pharmaceuticals. No certified class, no settlement, and no new issuer disclosure; the only substantive allegation involves neffy formulary timeline concerns at CVS Caremark."},"tickerRelevance":{"others":[],"primary":"SPRY"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Schall, Brown & Schwartz LLP issued a shareholder-solicitation notice reminding SPRY investors of a securities fraud class action with an October 5, 2026 lead plaintiff deadline.\n\nThe complaint alleges ARS Pharmaceuticals misled investors about the timeline for CVS Caremark adding neffy to its formulary, with insurance-coverage timing potentially shifting considerably and impacting commercialization.\n\nThe class period runs from March 9, 2026 to June 24, 2026; the class has not been certified and this is law-firm marketing rather than an issuer disclosure.","key_figures":{"customDimensions":{"class_period":"March 9, 2026 to June 24, 2026","lead_plaintiff_deadline":"October 5, 2026"}},"named_entities":{"people":[{"name":"Brian Schall","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"Andrew Brown","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"David Schwartz","role":"founding partner, Schall, Brown & Schwartz LLP"}],"products":["neffy"],"companies":[{"name":"ARS Pharmaceuticals, Inc.","ticker":"SPRY","relationship":"class action defendant / named issuer"},{"name":"Schall, Brown & Schwartz LLP","relationship":"plaintiff law firm"},{"name":"CVS Caremark","relationship":"pharmacy benefit manager cited in allegations"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-05T14:08:05.502Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":5143,"modelName":"glm-5.3-flashx"}}