NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons and entities who purchased or otherwise acquired: (a) Ventyx Biosciences, Inc. (“Ventyx” or the “Company”) (NASDAQ: VTYX) common stock pursuant and/or traceable to the Offering documents issued in connection with the Company’s initial public offering conducted on or about October 21, 2021 (the “IPO” or “Offering”); and/or (b) Ventyx securities between October 21, 2021 and November 6, 2023, both dates inclusive (the “Class Period”).
The Complaint alleges that the Offering documents for Ventyx’s IPO were negligently prepared, and that Defendants made materially false and/or misleading statements regarding the Company’s business, operations, and prospects. Specifically, that: (1) Ventyx’s lead clinical product candidate VTX958 was less effective in treating psoriasis than Defendants had led investors to believe; (2) as a result, VTX958’s clinical and/or commercial prospects were overstated; (3) accordingly, the Company had misrepresented its ability to develop and commercialize effective product candidates; (4) Ventyx’s post-IPO business prospects were thus inflated; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Investors who purchased or otherwise acquired shares of Ventyx should contact the Firm prior to the April 30, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
