A lawsuit was filed on behalf of investors in Keryx Biopharmaceuticals (NASDAQ:KERX) shares over alleged securities laws violations and NASDAQ:KERX investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/16/2016 -- An investor, who purchased shares of Keryx Biopharmaceuticals (NASDAQ:KERX), filed a lawsuit in New York over alleged violations of Federal Securities Laws by Keryx Biopharmaceuticals.
Investors who purchased shares of Keryx Biopharmaceuticals (NASDAQ:KERX) have certain options and for certain investors are short and strict deadlines running. Deadline: October 3, 2016. NASDAQ:KERX investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Keryx Biopharmaceuticals (NASDAQ:KERX) common shares between February 25, 2016, and August 1, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 25, 2016, and August 1, 2016 the Defendants made allegedly false and/or misleading statements and/or failed to disclose that Keryx Biopharmaceuticals was experiencing production-related difficulties in converting API to finished drug product, that the issue was resulting in decreased production yields of finished drug product, that, as a result, the Company would, and did exhaust its reserve of finished drug product, and that, as a result of the foregoing, Defendants' statements about Keryx Biopharmaceuticals' business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On August, 1, 2016 Keryx Biopharmaceuticals announced an interruption in the supply of Auryxia® (ferric citrate) tablets due to a production-related issue converting active pharmaceutical ingredient to finished drug product. Keryx Biopharmaceuticals said it expects to make Auryxia available to patients when supply is back to adequate levels. Additionally, Keryx Biopharmaceuticals has withdrawn its 2016 financial guidance.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) declined to as low as $4.02 per share on August 2, 2016.
On August 15, 2016, NASDAQ:KERX shares closed at $4.47 per share.
Those who purchased shares of Keryx Biopharmaceuticals have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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