NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers and acquirers of securities of Ardelyx, Inc. (NASDAQ: ARDX) between October 31, 2023 and July 1, 2024, both dates inclusive (the “Class Period”). Ardelyx describes itself as a “biotechnology company focused on developing and commercializing therapies for, among other things, patients with chronic kidney disease (“CKD”).”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Ardelyx, Inc. (NASDAQ: ARDX) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants made materially false and misleading statements regarding Ardelyx’s future revenue and funding requirements, and the commercial success of a phosphorus inhibitor, XPHOZAH. Among other things, Ardelyx would apply to include XPHOZAH in the Transitional Drug Add-on Payment Adjustment program (“TDAPA”) when in fact, Ardelyx had not yet reached a firm decision concerning whether or not to apply to include XPHOZAH in TDAPA. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Ardelyx, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 15, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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