ARS Pharmaceuticals Faces Class Action Lawsuit Over Neffy Coverage Claims

The lawsuit targets the period between March 9, 2026, and June 24, 2026. According to the complaint, ARS Pharmaceuticals repeatedly suggested that CVS Caremark would provide unrestricted coverage for neffy starting July 1, 2026. However, the company later revealed that CVS Caremark had deferred its decision, causing shares to drop from $10.54 to $8.02 in a single session—a decline of nearly 24 percent.

Investors who purchased SPRY stock during this window may be eligible to participate in the litigation. While those who held shares through the drop are primary candidates, individuals who sold at a loss during the relevant period may also retain recovery rights. The case, filed in the United States District Court for the Southern District of California, is currently in the lead plaintiff selection phase. Interested investors have until October 5, 2026, to apply for appointment as lead plaintiff, though passive class members are not required to take any immediate action to remain part of the potential recovery.