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 ([email protected]). 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.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC