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 securities and/or put options between November 9, 2020 and December 8, 2021. 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 (1) the Food and Drug Administration had raised concerns regarding the validity of the clinical study designed to measure the efficacy and safety of bardoxolone for the treatment of chronic kidney disease caused by Alport syndrome; (2) as a result, there was a material risk that Reata’s New Drug Application would not be approved; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until February 18, 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.
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