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Edison Investment Research on Akari note, retraction request

May 14, 2017

Edison Investment Research Inc. (“Edison”), an investment research and advisory company, wishes to comment on statements made by Akari Therapeutics (“Akari”) in its press release dated April 27, 2017 and the SEC filing dated May 11, 2017.

Edison’s analysts follow a strict and extensive review process prior to the publication of any report, including the April 26, 2017 note on Akari (the “Note”). Edison’s analyst team carried out the Edison Process, including engaging the client, Akari, to review and provide feedback on the report and notify us if any inaccuracies or misrepresentations appeared in the final draft of the Note.  Following a review of the report by Akari’s senior management, Edison was provided with specific written approval for the publication of the Note as published.

Following the publication of the Note on April 26, 2017, Akari management contacted Edison to notify that “certain errors” were found in the Note without providing Edison with further explanation regarding the alleged errors. Akari management subsequently requested Edison retract the Note and announced “material inaccuracies” were found in the Note.

Despite an in-depth investigation, Edison has yet to find any evidence of inaccuracies nor have details of any alleged inaccuracies been provided by Akari representatives, despite multiple requests from Edison and by Edison’s legal counsel, Barton LLP, to Edison’s legal counsel. Edison believes the published Note consistently reflected the accuracy of the information contained in and written by Akari in Akari’s press release dated April 24, 2017.

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and Asia Pacific. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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