The filed complaint alleges that Ardelyx, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) defendants had engaged in a scheme to deceive the investing public, including Plaintiff and other Class members; (ii) this scheme artificially inflated and maintained the market price of Ardelyx securities; and (iii) this scheme caused Plaintiff and other members of the Class to purchase or otherwise acquire Ardelyx securities and options at artificially inflated prices.