Ardelyx Inc. was sued by a shareholder who alleges the biotech company misled investors about whether it would seek to include its kidney disease treatment in a Medicare program.
Ardelyx “shocked the market” when it announced it wasn’t applying to include Xphozah in the transitional drug add-on payment adjustment program, causing a drop in its stock price, investors said in a proposed class action filed Aug. 16 in the US District Court for the District of Massachusetts.
“Had Plaintiff and the other members of the Class known the truth, they would not have purchased or otherwise acquired said securities, or ...
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