IMPORTANT NOTICE TO SHAREHOLDERS: Brower Piven Notifies Shareholders of Securities Class Action Lawsuit And Encourages Inves...
August 04 2016 - 3:27PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Keryx
Pharmaceuticals, Inc. (NASDAQ:KERX) (“Keryx” or the “Company”)
securities during the period between February 25, 2016, and August
1, 2016, inclusive (the “Class Period”). Investors who wish
to become proactively involved in the litigation have until October
3, 2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Keryx securities during the Class
Period. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. No class
has yet been certified in the above action.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that the
Company was experiencing production-related difficulties in
converting active pharmaceutical ingredient (“API”) to a finished
drug product (Auryxia tablets), that the issue was resulting in
decreased production yields of Auryxia tablets and that the Company
would, and did, exhaust its reserve of finished drug product.
According to the complaint, following an August
1, 2016 announcement that the Company had determined that a supply
interruption of Auryxia tablets was going to occur due to
production-related issues in converting API to a finished drug
product at its contract manufacturer, that the issue had resulted
in variable production yields of finished drug product, and the
Company had exhausted its reserve of finished drug product, the
value of Keryx shares declined significantly.
If you have suffered a loss in excess of
$100,000 from investment in Keryx securities purchased on or after
February 25, 2016 and held through the revelation of negative
information during and/or at the end of the Class Period and would
like to learn more about this lawsuit and your ability to
participate as a lead plaintiff, without cost or obligation to you,
please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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