NEW ORLEANS, Aug. 12, 2016 /PRNewswire/ -- Kahn Swick
& Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until October 3, 2016 to
file lead plaintiff applications in a securities class action
lawsuit against Keryx Biopharmaceuticals Inc. (NasdaqCM: KERX), if
they purchased the Company's securities between February 25, 2016, and August 1, 2016, inclusive (the "Class Period").
This action is pending in the United States District Court
for the Southern District of New
York.
What You May Do
If you purchased shares of Keryx 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, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to
serve as a lead plaintiff in this class action, you must petition
the Court by October 3,
2016.
About the Lawsuit
Keryx and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
The alleged false statements include, but are not limited to,
(i) that Keryx was experiencing production-related difficulties in
converting an active pharmaceutical ingredient to a finished drug
product; (ii) which was resulting in decreased production yields of
its finished drug product Auryxia, Keryx's kidney drug; and (iii)
that, as a result, Keryx would, and did exhaust its reserve of
Auryxia.
On August 1, 2016, Keryx announced
an imminent interruption in the supply of Auryxia and withdrew its
full-year forecast. On this news, the price of Keryx's shares
plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a
law firm focused on securities, antitrust and consumer class
actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New
York, California and
Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC