A lawsuit was filed on behalf of investors in Akebia Therapeutics Inc (NASDAQ:AKBA) shares over alleged securities laws violations and NASDAQ:AKBA investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/13/2016 -- An investor, who purchased shares of Akebia Therapeutics Inc (NASDAQ:AKBA), filed a lawsuit in Massachusetts over alleged violations of Securities Laws by Akebia Therapeutics Inc.
Investors who purchased shares of Akebia Therapeutics Inc (NASDAQ:AKBA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint the plaintiff alleges that the defendants violated the federal securities laws by, among other things, making material misstatements or omissions concerning the Phase 2b clinical study of vadadustat.
On July 24, 2013, Akebia Therapeutics announced the initiation of phase 2b trial of Oral Anemia Candidate. Akebia Therapeutics Inc saidthat it has dosed the first patient in the Phase 2b trial of AKB-6548 for the treatment of anemia associated with chronic kidney disease (CKD). AKB-6548 is an orally available, hypoxia-inducible factor prolyl hydroxylase (HIF-PH) inhibitor, which is designed to stabilize HIF2?, a critical regulator of red blood cell production and iron absorption.
On March 20, 2104, Akebia Therapeutics Inc announced the pricing of its initial public offering of 5,882,353 shares of common stock at an initial public offering price of $17.00 per share.
Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) reached $29.17 per share in June 2014.
On October 27, 2014, Akebia Therapeutics Inc announced positive top-line results from its Phase 2b placebo-controlled trial of AKB-6548 in non-dialysis patients with anemia related to chronic kidney disease. Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) declined from over $29 per share in June 2014 to as low as $6.65 per share in August 2015.
Those who purchased shares of Akebia Therapeutics Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com