{"id":411857,"date":"2021-01-11T08:03:19","date_gmt":"2021-01-11T13:03:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411857"},"modified":"2021-01-11T08:03:19","modified_gmt":"2021-01-11T13:03:19","slug":"lawsuit-filed-tricida-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-tricida-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/","title":{"rendered":"LAWSUIT FILED: Tricida, Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BOSTON, Jan.  11, 2021  (GLOBE NEWSWIRE) &#8212; Nationally-recognized securities law firm Block &amp; Leviton LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_GPwJq7pX--ymd--j_a7Ikn7uEAoW3-eIomE8K2znzc1lx2hxPJBxnCGJAT1-K7BcctUz8eRmgjZR1u1JLfPRLSX7iu9YB0QKFWK4sXP_mc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>) announces that a lawsuit for violation of the federal securities laws has been filed against Tricida, Inc. (NASDAQ: TCDA) and certain of its executives.<\/p>\n<p align=\"justify\">On July 15, 2020, Tricida, Inc. (NASDAQ: TCDA) stunned the market when it announced that it had received a notification from the U.S. Food and Drug Administration that, as part of the FDA\u2019s review of Tricida\u2019s New Drug Application for its drug candidate, veverimer, \u201cthe FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements\/commitments at this time.\u201d On this news, Tricida\u2019s stock price fell $10.56 per share, or over 40%.<\/p>\n<p align=\"justify\">Then on October 29, 2020, Tricida announced an update on its End-of-Review Type A meeting with the FDA concerning the veverimer New Drug Application, stating that Tricida \u201cnow believes the FDA will also require evidence of veverimer\u2019s effect on CKD progression from a near-term interim analysis of the\u201d trial for approval under the FDA\u2019s Accelerated Approval Program, and that the \u201cFDA is unlikely to rely solely on serum bicarbonate data for determination of efficacy.\u201d Tricida also disclosed that it was \u201csignificantly reducing its headcount from 152 to 59 people and will discuss its commitments with vendors and contract service providers to potentially provide additional financial flexibility.\u201d On this news, Tricida\u2019s stock price fell another $3.90 per share, or over 47%, to close at just $4.37.<\/p>\n<p align=\"justify\">A lawsuit has been filed against Tricida and certain of its executives in the U.S. District Court for the Northern District of California. The lawsuit is captioned <em>Pardi v. Tricida, Inc., et al.<\/em>, No. 3:21-cv-00076 (N.D. Cal.). The suit alleges that Tricida misled investors as to the viability of its veverimer NDA and that the NDA was materially deficient when presented.<\/p>\n<p align=\"justify\">If you purchased or acquired shares of Tricida between September 4, 2019 and October 28, 2020 and lost money, you are strongly encouraged to contact the nationally-recognized securities law firm Block &amp; Leviton LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_GPwJq7pX--ymd--j_a7InORo-rsXibz97RVYUfNQyHCfniyPLirL6QfU_E6uyI9IvnsOd7LpnWAFYBiifnLMAVVcado6nNc1lZsQTs6MXM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>) at (617) 398-5600, via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nYf8Lz1LvUrLAOYVHyCwH8yPQhIgF4oEci-zU5C6PRlAeMamU0C91xe4OKsI5heJo4zvy1Z-B5FTscZWtvTa1OOKR-hCtyARTwCxAjpTJc0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cases@blockleviton.com<\/a>, or at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XsXvG58RTEiE4A4Un7FjBvFqYRAd4o2IoH4T0y78GEWZ0ob1SHeCB5p7Oz5mxeR9Dg-KHR4VS2SibqhABeRIvVFiRhT1L66ySOvaOaijgWmxJnV7-RP6Nvcbt7dZ-4_ErpZto-zJO9qKMSacCtZTDw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.blockleviton.com\/cases\/tcda<\/a>. The deadline to move the Court to be appointed lead plaintiff is March 8, 2021.<\/p>\n<p align=\"justify\">Block &amp; Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country\u2019s financial markets. The firm represents many of the nation\u2019s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm\u2019s lawyers have recovered billions of dollars for its clients.<\/p>\n<p>This notice may constitute attorney advertising.<\/p>\n<p>CONTACT:<br \/>BLOCK &amp; LEVITON LLP<br \/>260 Franklin St., Suite 1860<br \/>Boston, MA 02110<br \/>Phone: (617) 398-5600<br \/>Email: cases@blockleviton.com<br \/>SOURCE: Block &amp; Leviton LLP<br \/>www.blockleviton.com<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMjg4OCMzOTEwNzQzIzIwMTgxMTk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/16a0af33-f0c2-46a8-97b4-58f33f3ebb5a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BOSTON, Jan. 11, 2021 (GLOBE NEWSWIRE) &#8212; Nationally-recognized securities law firm Block &amp; Leviton LLP (www.blockleviton.com) announces that a lawsuit for violation of the federal securities laws has been filed against Tricida, Inc. (NASDAQ: TCDA) and certain of its executives. On July 15, 2020, Tricida, Inc. (NASDAQ: TCDA) stunned the market when it announced that it had received a notification from the U.S. Food and Drug Administration that, as part of the FDA\u2019s review of Tricida\u2019s New Drug Application for its drug candidate, veverimer, \u201cthe FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements\/commitments at this time.\u201d On this news, Tricida\u2019s stock price fell $10.56 per share, or over 40%. Then on October 29, 2020, Tricida announced &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-tricida-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LAWSUIT FILED: Tricida, Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411857","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LAWSUIT FILED: Tricida, Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-tricida-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LAWSUIT FILED: Tricida, Inc. 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Then on October 29, 2020, Tricida announced &hellip; Continue reading &quot;LAWSUIT FILED: Tricida, Inc. 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