{"id":451835,"date":"2021-03-05T10:03:33","date_gmt":"2021-03-05T15:03:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451835"},"modified":"2021-03-05T10:03:33","modified_gmt":"2021-03-05T15:03:33","slug":"the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-tricida-inc-tcda","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-tricida-inc-tcda\/","title":{"rendered":"The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA)"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA)<\/b><\/p>\n<p>LOS ANGELES&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com%2F&amp;esheet=52388007&amp;newsitemid=20210305005006&amp;lan=en-US&amp;anchor=The+Law+Offices+of+Frank+R.+Cruz&amp;index=1&amp;md5=65327db7799d66b73ed4283e9e1c93d4\">The Law Offices of Frank R. Cruz<\/a> reminds investors of the upcoming <b>March 8, 2021 <\/b>deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Tricida, Inc. (\u201cTricida\u201d or the \u201cCompany\u201d) (NASDAQ: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FTCDA&amp;esheet=52388007&amp;newsitemid=20210305005006&amp;lan=en-US&amp;anchor=TCDA&amp;index=2&amp;md5=bfc705e38308c4718d6fbdca89528b9c\">TCDA<\/a>) securities between <b>September 4, 2019 and October 28, 2020<\/b>,<b \/>inclusive (the \u201cClass Period\u201d).\n<\/p>\n<p>\nIf you are a shareholder who suffered a loss, click <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Ftricida-inc%2F&amp;esheet=52388007&amp;newsitemid=20210305005006&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=4084881429abc6f9424f0bddf52a4c62\">here<\/a> to participate.\n<\/p>\n<p>\nTricida\u2019s drug candidate, veverimer, is a polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (\u201cCKD\u201d). The Company has completed a Phase 3, double-blind, placebo-controlled trial of veverimer in patients with CKD and metabolic acidosis.\n<\/p>\n<p>\nOn September 4, 2019, Tricida announced that it had submitted a New Drug Application (\u201cNDA\u201d) to the U.S. Food and Drug Administration (\u201cFDA\u201d) under the Accelerated Approval Program for approval of veverimer for the treatment of metabolic acidosis in patients with CKD.\n<\/p>\n<p>\nOn July 15, 2020, Tricida announced that it had received a notice from the FDA \u201cidentif[ying] deficiencies that preclude discussion of labeling and postmarketing requirements\/commitments at this time.\u201d The Company stated that \u201c[t]he notification does not specify the deficiencies identified by the FDA.\u201d\n<\/p>\n<p>\nOn this news, the Company\u2019s stock price fell $10.56, or 40.31%, to close at $15.64 per share on July 16, 2020, thereby injuring investors.\n<\/p>\n<p>\nThen, on October 29, 2020, following its End-of-Review Type A meeting with the FDA, Tricida announced that it \u201cnow believes the FDA will also require evidence of veverimer\u2019s effect on CKD progression from a near-term interim analysis of the VALOR-CKD trial for approval under the Accelerated Approval Program and that the FDA 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\n<\/p>\n<p>\nOn this news, the Company\u2019s stock price fell $3.90, or 47.16%, to close at $4.37 per share on October 29, 2020, thereby injuring investors.\n<\/p>\n<p>\nThe complaint filed alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Tricida\u2019s NDA for veverimer was materially deficient; (2) accordingly, it was foreseeably likely that the FDA would not accept the NDA for veverimer; and (3) as a result, Defendants\u2019 statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.\n<\/p>\n<p>\nFollow us for updates on Twitter: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FFRC_LAW&amp;esheet=52388007&amp;newsitemid=20210305005006&amp;lan=en-US&amp;anchor=twitter.com%2FFRC_LAW&amp;index=4&amp;md5=24b44ae8d3529967b37115a6088b860c\">twitter.com\/FRC_LAW<\/a>.\n<\/p>\n<p>\nIf you purchased or otherwise acquired Tricida securities during the Class Period, you may move the Court no later than <b>March 8, 2021 <\/b>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to <a rel=\"nofollow\" href=\"mailto:info@frankcruzlaw.com\">info@frankcruzlaw.com<\/a>, or visit our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com&amp;esheet=52388007&amp;newsitemid=20210305005006&amp;lan=en-US&amp;anchor=www.frankcruzlaw.com&amp;index=5&amp;md5=f05099ed644e6b3f9a38a0ddca17aa4c\">www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n<p>\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210305005006r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210305005006\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210305005006\/en\/<\/a><\/span><\/p>\n<p>\nThe Law Offices of Frank R. Cruz, Los Angeles<br \/>\n<br \/>Frank R. Cruz, 310-914-5007<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:fcruz@frankcruzlaw.com\">fcruz@frankcruzlaw.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.frankcruzlaw.com&amp;esheet=52388007&amp;newsitemid=20210305005006&amp;lan=en-US&amp;anchor=www.frankcruzlaw.com&amp;index=6&amp;md5=9ceb58be7d89ed54014a8cc6e9159735\">www.frankcruzlaw.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210305005006\/en\/765953\/3\/Close_Up_Logo_HD_Blue.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA) LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;The Law Offices of Frank R. Cruz reminds investors of the upcoming March 8, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Tricida, Inc. (\u201cTricida\u201d or the \u201cCompany\u201d) (NASDAQ: TCDA) securities between September 4, 2019 and October 28, 2020,inclusive (the \u201cClass Period\u201d). If you are a shareholder who suffered a loss, click here to participate. Tricida\u2019s drug candidate, veverimer, is a polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (\u201cCKD\u201d). The Company has completed a Phase 3, double-blind, placebo-controlled trial &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-tricida-inc-tcda\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA)&#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-451835","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>The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA) - 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\/the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-tricida-inc-tcda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. (TCDA) LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;The Law Offices of Frank R. Cruz reminds investors of the upcoming March 8, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Tricida, Inc. (\u201cTricida\u201d or the \u201cCompany\u201d) (NASDAQ: TCDA) securities between September 4, 2019 and October 28, 2020,inclusive (the \u201cClass Period\u201d). If you are a shareholder who suffered a loss, click here to participate. Tricida\u2019s drug candidate, veverimer, is a polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (\u201cCKD\u201d). The Company has completed a Phase 3, double-blind, placebo-controlled trial &hellip; Continue reading &quot;The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. 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Cruz reminds investors of the upcoming March 8, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Tricida, Inc. (\u201cTricida\u201d or the \u201cCompany\u201d) (NASDAQ: TCDA) securities between September 4, 2019 and October 28, 2020,inclusive (the \u201cClass Period\u201d). If you are a shareholder who suffered a loss, click here to participate. Tricida\u2019s drug candidate, veverimer, is a polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (\u201cCKD\u201d). The Company has completed a Phase 3, double-blind, placebo-controlled trial &hellip; Continue reading \"The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tricida, Inc. 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