Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Tricida Inc
NEW YORK, NY / ACCESSWIRE / Jan 23, 2021 / Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a motion by a lead plaintiff in a class action lawsuit filed on behalf of investors who bought or acquired the securities of Tricida Inc. (“Tricida”) to have. or the “Society”) (NASDAQ: TCDA) from September 4, 2019 to October 28, 2020 (the “Class Period”). The lawsuit in the U.S. District Court for the Northern District of California pertains to violations of the Securities Exchange Act of 1934.
If you have purchased Tricida securities and / or would like to discuss your legal rights and options, please visit Tricida Shareholders’ Class Action Action or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that throughout the classroom, the defendants made false and / or misleading statements and / or failed to disclose that: (i) Tricidas NDA for Veverimer was materially defective; (ii) accordingly, it was predictably likely that the FDA would not accept the NDA for veverimer; and (iii) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On July 15, 2020, Tricida issued a press release announcing that the company had received a notification from the FDA on July 14, 2020 stating that the FDA was in the process of ongoing review of the company’s NDA has identified deficiencies for Veverimer by the FDA that preclude discussion of the labeling and post-marketing requirements / obligations at this time. “Tricida stated that”[t]The notification does not disclose the deficiencies identified by the FDA. “In the news, Tricida stock price fell $ 10.56 per share, or 40.31%, to close at $ 15.64 per share on July 16, 2020.
Then, on October 29, 2020, Tricida announced an update to its Type A end-of-review meeting with the FDA regarding the Veverimer NDA, informing investors that the company “now believes the FDA also has evidence for Veverimer’s impact on CKD progression will be determined from a short-term interim analysis of the VALOR-CKD trial for approval under the Accelerated Approval Program and the fact that the FDA is unlikely to rely solely on serum bicarbonate data to determine efficacy At the same time, Tricida announced that it will “significantly reduce its headcount from 152 to 59 people and will discuss its commitments with vendors and contract service providers to allow for additional financial flexibility”. In that news, Tricida stock price fell $ 3.90 per share, or 47.16%, to close at $ 4.37 per share on October 29, 2020.
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If you want to serve as the lead plaintiff, you must transfer the court no later than March 8, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you have purchased Tricida securities and / or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/tricidainc-tcda-shareholder-class-action-lawsuit-stock-fraud-353 / Apply / or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has collected over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. Based on the success of hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP
SOURCE: Bernstein Liebhard LLP
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