Reata is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) the Food and Drug Administration had raised concerns regarding the validity of the clinical study designed to measure the efficacy and safety of bardoxolone for the treatment of chronic kidney disease caused by Alport syndrome; (2) as a result, there was a material risk that Reata’s New Drug Application would not be approved; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you incurred a loss on RETA securities and/or put options purchased between November 9, 2020 and December 8, 2021, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Eastern District of Texas, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until February 18, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.