KERYX SHAREHOLDER ALERT By Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess ...
August 26 2016 - 10:07PM
Business Wire
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until October 3, 2016 to file lead
plaintiff applications in a securities class action lawsuit against
Keryx Biopharmaceuticals Inc. (NasdaqCM: KERX), if they purchased
the Company’s securities between February 25, 2016, and August 1,
2016, inclusive (the “Class Period”). This action is pending in the
United States District Court for the Southern District of New
York.
What You May Do
If you purchased shares of Keryx and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by October 3, 2016.
About the Lawsuit
Keryx and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
The alleged false statements include, but are not limited to,
(i) that Keryx was experiencing production-related difficulties in
converting an active pharmaceutical ingredient to a finished drug
product; (ii) which was resulting in decreased production yields of
its finished drug product Auryxia, Keryx’s kidney drug; and (iii)
that, as a result, Keryx would, and did exhaust its reserve of
Auryxia.
On August 1, 2016, Keryx announced an imminent interruption in
the supply of Auryxia and withdrew its full-year forecast. On this
news, the price of Keryx’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities,
antitrust and consumer class actions, along with merger &
acquisition and breach of fiduciary litigation against publicly
traded companies on behalf of shareholders. The firm has offices in
New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160826005013/en/
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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