The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ardelyx Inc. (NASDAQ: ARDX) who purchased shares between August 6, 2020 and July 19, 2021. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Ardelyx lawsuit alleges 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.
Shareholders have until September 28, 2021 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.
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