{"id":521436,"date":"2021-08-02T15:06:08","date_gmt":"2021-08-02T19:06:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ardx-notice-investors-with-substantial-losses-have-opportunity-to-lead-the-ardelyx-inc-class-action-lawsuit\/"},"modified":"2021-08-02T15:06:08","modified_gmt":"2021-08-02T19:06:08","slug":"ardx-notice-investors-with-substantial-losses-have-opportunity-to-lead-the-ardelyx-inc-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ardx-notice-investors-with-substantial-losses-have-opportunity-to-lead-the-ardelyx-inc-class-action-lawsuit\/","title":{"rendered":"ARDX NOTICE: Investors with Substantial Losses Have Opportunity to Lead the Ardelyx Inc. Class Action Lawsuit"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SAN DIEGO<\/span>, Aug. 2, 2021<\/span> \/PRNewswire\/ — The Ardelyx <\/i>class action lawsuit charges Ardelyx Inc. (NASDAQ: ARDX) and certain of its top executives with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of Ardelyx securities between August 6, 2020<\/span> and July 19, 2021<\/span>, inclusive (“Class Period”).\u00a0\u00a0 The Ardelyx <\/i>class action lawsuit was commenced on July 30, 2021<\/span> in the Northern District of California<\/span> and is captioned Strezsak v. Ardelyx Inc.<\/i>,\u00a0No. 21-cv-05868.<\/p>\n

\n If you wish to serve as lead plaintiff of the Ardelyx<\/i> class action lawsuit, please provide your information by clicking here<\/a>.\u00a0 You can also contact attorney J.C. Sanchez<\/a> of Robbins Geller by calling 800\/449-4900 or via e-mail at jsanchez@rgrdlaw.com<\/a>.\u00a0 Lead plaintiff motions for the Ardelyx<\/i> class action lawsuit must be filed with the court no later than September 28, 2021<\/span>.<\/b>\n <\/p>\n

\n CASE ALLEGATIONS<\/b>: In June 2020<\/span>, Ardelyx submitted a New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for Ardelyx’s lead product candidate, tenapanor, a supposedly first-in-class medicine for the control of serum phosphorus in adult patients with chronic kidney disease on dialysis.\u00a0 The FDA accepted Ardelyx’s NDA in September 2020<\/span> and set a Prescription Drug User Fee Act date of April 29, 2021<\/span>. <\/p>\n

The Ardelyx<\/i> class action lawsuit alleges that Ardelyx repeatedly lauded this development, highlighting the FDA’s acceptance and review of the NDA, supported by so-called “successful” Phase 3 studies, in each subsequently filed quarterly report and in the Company’s 2020 Annual Report.\u00a0 However, the Ardelyx <\/i>class action lawsuit further alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding tenapanor and the likelihood that it would be approved by the FDA.\u00a0 Specifically, the Ardelyx<\/i> class action lawsuit alleges that defendants possessed, were in control over, and, as a result, knew (or had reason to know) that the data submitted to support the NDA was insufficient in that it showed a lack of clinical relevance of the drug’s treatment effect, making it foreseeably likely (if not certain) that the FDA would not approve the drug.<\/p>\n

On July 19, 2021<\/span>, Ardelyx announced that it had received a letter from the FDA, dated July 13, 2021<\/span>, that said the FDA had found deficiencies that precluded discussion around the would-be labeling and post-marketing requirements for tenapanor.\u00a0 The FDA revealed that it detected issues with both the size and clinical relevance of the drug’s treatment effect.\u00a0 On this news, Ardelyx’s stock price fell nearly 74%, damaging investors.<\/p>\n

\n THE LEAD PLAINTIFF PROCESS<\/b>: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Ardelyx securities during the Class Period to seek appointment as lead plaintiff in the Ardelyx<\/i> class action lawsuit.\u00a0 A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.\u00a0 A lead plaintiff acts on behalf of all other class members in directing the Ardelyx<\/i> class action lawsuit.\u00a0 The lead plaintiff can select a law firm of its choice to litigate the Ardelyx<\/i> class action lawsuit.\u00a0 An investor’s ability to share in any potential future recovery of the Ardelyx<\/i> class action lawsuit is not dependent upon serving as lead plaintiff.\u00a0 <\/p>\n

\n ABOUT ROBBINS GELLER RUDMAN & DOWD LLP<\/b>: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions.\u00a0 Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever \u2013 $7.2 billion<\/span> \u2013 in In re Enron Corp. Sec. Litig<\/i>.\u00a0 The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion<\/span> for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm.\u00a0 Please visit https:\/\/www.rgrdlaw.com\/firm.html<\/a> for more information.\u00a0 <\/p>\n

Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.<\/p>\n

\n\n\n\n\n\n\n
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\n Contact:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Robbins Geller Rudman & Dowd LLP<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 655 W. Broadway, San Diego, CA\u00a0 92101<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n J.C. Sanchez, 800-449-4900<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n jsanchez@rgrdlaw.com<\/a>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/ardx-notice-investors-with-substantial-losses-have-opportunity-to-lead-the-ardelyx-inc-class-action-lawsuit-301346267.html<\/a><\/p>\n

SOURCE Robbins Geller Rudman & Dowd LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire SAN DIEGO, Aug. 2, 2021 \/PRNewswire\/ — The Ardelyx class action lawsuit charges Ardelyx Inc. (NASDAQ: ARDX) and certain of its top executives with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of Ardelyx securities between August 6, 2020 and July 19, 2021, inclusive (“Class Period”).\u00a0\u00a0 The Ardelyx class action lawsuit was commenced on July 30, 2021 in the Northern District of California and is captioned Strezsak v. Ardelyx Inc.,\u00a0No. 21-cv-05868. If you wish to serve as lead plaintiff of the Ardelyx class action lawsuit, please provide your information by clicking here.\u00a0 You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800\/449-4900 or via e-mail at jsanchez@rgrdlaw.com.\u00a0 Lead plaintiff motions … <\/p>\n

Continue reading “ARDX NOTICE: Investors with Substantial Losses Have Opportunity to Lead the Ardelyx Inc. Class Action Lawsuit”<\/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-521436","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nARDX NOTICE: Investors with Substantial Losses Have Opportunity to Lead the Ardelyx Inc. 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(NASDAQ: ARDX) and certain of its top executives with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of Ardelyx securities between August 6, 2020 and July 19, 2021, inclusive (“Class Period”).\u00a0\u00a0 The Ardelyx class action lawsuit was commenced on July 30, 2021 in the Northern District of California and is captioned Strezsak v. Ardelyx Inc.,\u00a0No. 21-cv-05868. If you wish to serve as lead plaintiff of the Ardelyx class action lawsuit, please provide your information by clicking here.\u00a0 You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800\/449-4900 or via e-mail at jsanchez@rgrdlaw.com.\u00a0 Lead plaintiff motions … Continue reading "ARDX NOTICE: Investors with Substantial Losses Have Opportunity to Lead the Ardelyx Inc. 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