Investors with losses are requested to contact the company before March 8, 2021. Click here to submit trade information
LOS ANGELES, March 2, 2021 (GLOBE NEWSWIRE) – Law firm Portnoy advises investors that on behalf of Tricida, Inc. (NASDAQ: TCDA) investors who purchased shares between November 27, 2020 and December 27, 2020, a Class action lawsuit was filed on March 31, 2020. Investors have until March 8, 2021 to seek an active role in this litigation.
Investors are encouraged to contact Attorney Lesley F. Portnoy by phone at 310-692-8883 or email to determine eligibility to participate in this promotion or click here to join the case.
This complaint alleges that, throughout the classroom, Tricida made misleading and / or false statements and / or failed to disclose that: (i) Tricidas NDA was materially deficient in relation to veverimer; (ii) accordingly, it was foreseeable that the NDA for veverimer would not be accepted by the FDA; and (iii) as a result, the Tricida public statements have been materially misleading and false at all relevant times.
Tricida issued a press release on July 15, 2020 announcing that it had received a notification from the FDA on July 14, 2020 stating that the company’s ongoing NDA review for Veverimer was through The FDA “The FDA has identified deficiencies that preclude discussion of the labeling and post-marketing requirements / obligations at this time. “Tricida stated that”[t]The notification does not indicate the deficiencies identified by the FDA. “Tricida stock price fell $ 10.56 per share, or 40.31%, on the news, to close at $ 15.64 per share on July 16, 2020.
Then, on October 29, 2020, Tricida announced an update on its Type A end-of-review meeting with the FDA regarding the Veverimer NDA, advising investors that the company “now believes that the FDA will also require evidence of the effect of Veverimer on CKD progression based on a short-term interim analysis of the VALOR-CKD study for approval under the Accelerated Approval Program and the fact that the FDA is unlikely to be exclusive on determining effectiveness will rely on serum bicarbonate data. “At the same time, Tricida announced that it will” significantly reduce its headcount from 152 to 59 people and discuss its commitments with vendors and contract service providers to potentially provide additional financial flexibility. ” Tricida’s share price fell $ 3.90 per share, or 47.16%, on that news, closing at $ 4.37 per share on October 29, 2020.
A class action lawsuit has already been filed. If you want to stand as the lead plaintiff, you must transfer the court by March 8, 2021 at the latest.
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Portnoy law firm represents investors in pursuing claims arising from corporate violations. The company’s founding partner has confiscated over $ 5.5 billion for aggrieved investors. Lawyer advertising. Previous results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Approved CA and NY bar