SAN DIEGO, Aug. 31, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New York on behalf of certain purchasers of shares of Keryx Biopharmaceuticals (NASDAQ:KERX) over alleged Securities Laws Violations by Keryx Biopharmaceuticals. The lawsuit seeks to recover damages for certain NASDAQ:KERX investors.
Investors who purchased shares of Keryx Biopharmaceuticals (NASDAQ:KERX) have certain options and for certain investors there are short and strict deadlines running. Deadline: October 3, 2016. NASDAQ:KERX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants made allegedly false and/or misleading statements and/or failed to disclose that Keryx Biopharmaceuticals was experiencing production-related difficulties in converting API to finished drug product, that the issue was resulting in decreased production yields of finished drug product, that, as a result, the Company would, and did exhaust its reserve of finished drug product, and that, as a result of the foregoing, Defendants’ statements about Keryx Biopharmaceuticals’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On August, 1, 2016 Keryx Biopharmaceuticals announced an interruption in the supply of Auryxia® (ferric citrate) tablets due to a production-related issue converting active pharmaceutical ingredient to finished drug product. Keryx Biopharmaceuticals said it expects to make Auryxia available to patients when supply is back to adequate levels. Additionally, Keryx Biopharmaceuticals has withdrawn its 2016 financial guidance.
Those who purchased Keryx Biopharmaceuticals (NASDAQ:KERX) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.