Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who acquired Keryx Biopharmaceuticals, Inc. securities between February 25, 2016 and August 1, 2016.
The complaint filed in this lawsuit 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’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose: (1) that the company was experiencing production-related difficulties in converting API to finished drug product; (2) that the issue was resulting in decreased production yields of finished drug product; (3) that, as a result, the company would, and did exhaust its reserve of finished drugproduct; and (4) that, as a result of the foregoing, defendants’ statements about Keryx’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.
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