AKEBIA THERAPEUTICS, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Akebia Therapeutics, Inc.

Thursday, 17. March 2022 13:30

NEW YORK, March 17, 2022 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Akebia Therapeutics, Inc. (“Akebia” or the “Company”) (NASDAQ: AKBA) in the United States District Court for the Eastern District of New York, on behalf of those investors who acquired Akebia securities between June 28, 2018 and September 2, 2020, both dates inclusive (the “Class Period”).

All investors who purchased the shares of Akebia Therapeutics, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com

If you have incurred losses in Akebia Therapeutics, Inc. you may, no later than May 13, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Akebia Therapeutics, Inc.

PLEASE CLICK HERE TO JOIN THE CASE

The filed complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

  • vadadustat was not as safe in treating NDD-CKD patients with anemia as Defendants had represented;
  • as a result, Defendants overstated the PRO2TECT Program’s clinical prospects;
  • accordingly, Defendants also overstated vadadustat’s overall commercial and regulatory prospects; and
  • as a result, the Company’s public statements were materially false and misleading at all relevant times.

On September 3, 2020, Akebia issued a press release announcing “top-line results” from the PRO2TECT Program, disclosing that “vadadustat did not meet the primary safety endpoint of the PRO2TECT program, defined as non-inferiority of vadadustat versus darbepoetin alfa in time to first occurrence of [MACE.]”

On this news, Akebia’s common stock price fell $7.35 per share, or 73.5%, to close at $2.65 per share on September 3, 2020.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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