The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) who purchased shares between October 15, 2019 and August 7, 2020. The action, which was filed in the United States District Court for the Eastern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Reata lawsuit alleges that (i) the MOXIe Part 2 study results were insufficient to support a single study marketing approval of omaveloxolone for the treatment of FA in the U.S. without additional evidence; (ii) as a result, it was foreseeable that the FDA would not accept marketing approval of omaveloxolone for the treatment of FA in the U.S. based on the MOXIe Part 2 study results; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until December 14, 2020 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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