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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Reata Pharmaceuticals, Inc. (NasdaqGM: RETA), if they purchased the Company’s securities, and/or sold put options between November 9, 2020 and December 8, 2021.
Reata and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 6, 2021, the U.S. Food and Drug Administration (“FDA”) released briefing documents regarding the Company’s product, bardoxolone, stating that “the FDA review team d[id] not believe the submitted data demonstrate that bardoxolone is effective in slowing the loss of kidney function in patients with AS and reducing the risk of progression to kidney failure.” On this news, shares of Reata fell $29.77, or 38%, to close at $48.92 per share on December 6, 2021, on unusually heavy trading volume.
Then, on December 8, 2021, the FDA’s Advisory Committee unanimously decided that bardoxolone was not effective based on the submitted data. On this news, shares of Reata fell $25.31, or 46%, to close at $29.11 per share on December 9, 2021, on unusually heavy trading volume.
If you purchased securities and/or sold put options of Reata as above 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, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The case is Doyle v. Reata Pharmaceuticals, Inc. et al., No. 21-cv-00987.
Click here to read the first filed complaint.
Click here to read the subsequently filed complaint.