The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Akebia Therapeutics, Inc. (NASDAQ: AKBA) who purchased shares between June 28, 2018 and September 2, 2020. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Akebia lawsuit alleges that (i) the Company’s lead investigational product candidate, vadadustat, was not as safe in treating non-dialysis dependent chronic kidney disease patients with anemia as defendants had represented; (ii) as a result, defendants overstated the clinical prospects of a Phase 3 clinical program for vadadustat; (iii) accordingly, defendants also overstated vadadustat’s overall commercial and regulatory prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 13, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >