The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Ardelyx Inc. who purchased shares between August 6, 2020 and July 19, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
the likelihood that tenapanor would be approved by the Food and Drug Administration (“FDA”). Defendants possessed, were in control over, and as a result, knew that the data submitted to support the New Drug Application was insufficient in that it showed a lack of clinical relevance of the drug’s treatment effect, making it foreseeably likely that the FDA would not approve the drug.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 28, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.