Securities Fraud Lawsuit Filed Against Akebia Therapeutics, Inc. (AKBA)

A securities fraud lawsuit has been filed against Akebia Therapeutics, Inc. (NASDAQ: AKBA) for potential securities violations on behalf of shareholders who purchased shares anytime during the period from June 28, 2018 through September 2, 2020.  The release of potentially misrepresentative and misleading information, as well as failure to disclose material adverse facts to the public may have resulted in material losses for shareholders.  The class action lawsuit has already been filed.

Lawsuit Filed Against Akebia Therapeutics

About Akebia Therapeutics

Akebia is a biopharmaceutical company that focuses on the development and commercialization of renal therapeutics for patients with kidney diseases. The Company’s lead investigational product candidate is vadadustat, an oral therapy, which is in Phase 3 development for the treatment of anemia due to chronic kidney disease (“CKD”) in dialysis-dependent and nondialysis dependent (“NDD”) adult patients.  Akebia’s Phase 3 clinical programs for vadadustat include, among others, the PRO2TECT program in NDD-CKD patients with anemia (the “PRO2TECT Program”). The PRO2TECT Program’s primary safety endpoint was defined as non-inferiority of vadadustat versus darbepoetin alfa in time to first occurrence of major adverse cardiovascular events (“MACE”).

Misleading Statements Alleged in Complaint

The complaint against Akebia Therapeutics alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

1. Vadadustat was not as safe in treating NDD-CKD patients with anemia as Defendants had represented;
2. as a result, Defendants overstated the PRO2TECT Program’s clinical prospects;
3. accordingly, Defendants also overstated vadadustat’s overall commercial and regulatory prospects; and
4. as a result, the Company’s public statements were materially false and misleading at all relevant times.

What Should Investors Do?

If you purchased shares of Akebia Therapeutics common stock during the relevant time period, you may be entitled to compensation, without payment of any out-of-pocket litigation fees or costs.  You may request the Court to appoint you as lead plaintiff for the class action no later than May 13, 2022.  Should you be designated as the lead plaintiff, you would have significant discretion over the litigation, including approval of a final settlement amount.  We urge investors to contact us immediately to discuss this.  MDF Law PLLC, is a New York City based investment fraud law firm[2] whose practice focuses on advocating for investors.  Our attorneys have helped recover hundreds of millions of dollars for investors.  We take all our cases on contingency, which means we do not collect a legal fee unless our clients recover money.  Contact MDF Law for a free consultation regarding this matter.