Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders who purchased shares of Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) (“Keryx”) between February 25, 2016 and August 1, 2016.
The complaint alleges that throughout the Class Period (between February 25, 2016 and August 1, 2016), Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was experiencing production-related difficulties in converting API to finished drug product; (2) that the issue was resulting in decreased production yields of finished drug product; (3) that, as a result, the Company would, and did exhaust its reserve of finished drug product; and (4) that, as a result of the foregoing, Defendants’ statements about Keryx’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Keryx Biopharmaceuticals, Inc. you have until October 3, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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