Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ardelyx, Inc. (“Ardelyx” or “the Company”) (NASDAQ: ARDX) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Ardelyx securities between October 31, 2023, and July 1, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case.
Case Details
The Complaint alleges that, in its Forms 10-Q filed on October 31, 2023, and May 2, 2024, and in its Form 10-K filed on February 22, 2024, Ardelyx indicated that it would apply to include XPHOZAH in TDAPA. Further, on an earnings call on May 2, 2024, Defendant Michael Raab advised analysts that “our intent is to enter TDAPA.” But then on July 2, 2024, Ardelyx shocked investors by disclosing that it had decided not to apply to include XPHOZAH in TDAPA.
Upon the above news, Ardelyx’s stock price fell $2.29 per share, or 30.25%, to close at $5.28 per share on July 2, 2024.
What’s Next?
A class action lawsuit has already been filed. You may review a copy of the Complaint. You may also contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660. If you suffered a loss in Ardelyx you have until October 15, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
ARDX — Stock Performance
About Bronstein, Gewirtz & Grossman, LLC
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”