The law firm Pomerantz announces the filing of a class action

NEW YORK, March 14, 2022 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action has been filed against Akebia Therapeutics, Inc. (“Akebia” or “Company”) (NASDAQ: AKBA) and any of its officials. The class action filed in the United States District Court for the Eastern District of New York and filed under number 22-cv-01411 is on behalf of a group consisting of all persons and entities other than the defendants who have purchased or otherwise acquired Akebia securities. between 28 June 2018 and 2 September 2020, both dates inclusive (the “Class Period”), in an effort to obtain compensation for damages caused by the Defendants’ violations of federal securities laws and to exercise remedies under Sections 10 (b) and 20 (a) of the Stock Exchange Act of 1934 (the “Stock Exchange Act”) and Rules 10b-5 of this Act against the Company and some of its senior executives.

If you are a shareholder who has purchased or otherwise acquired Akebia securities during the Class Period, you may request the Court to appoint you as Chief Class Applicant by May 13, 2022. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this event, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), free, Ext. 7980. Those who ask by e-mail are advised to provide their postal address, telephone number and number of shares purchased.

[Click here for information about joining the class action]

Akebia is a biopharmaceutical company that focuses on the development and commercialization of renal therapeutics for patients with kidney disease. The main candidate for the Company’s trial product is vadadustat, an oral therapy that is in phase 3 for the treatment of anemia caused by chronic kidney disease (“CKD”) in adult dialysis-dependent and dialysis-dependent (“NDD”) patients. .

Akebia’s Phase 3 clinical programs for vadadustat include, but are not limited to, PRO2TECT program in NDD-CKD patients with anemia (“PRO2TECT Program ”). Pro2The primary safety objective of the TECT program was defined as the non-inferiority of vadadustat over darbepoetin alfa at the time of the first occurrence of serious cardiovascular adverse events (“MACE”).

The complaint alleges that during the Term, the Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. In particular, the defendants made false and / or misleading statements and / or did not disclose that: (i) vadadustat was not as safe in the treatment of NDD-CKD patients with anemia as the defendants; (ii) as a result, the defendants exaggerated the PRO2clinical prospects of the TECT program; (iii) accordingly, the defendants also overestimated Vadadustat’s overall business and regulatory prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On September 3, 2020, Akebia issued a press release announcing the “best results” from PRO2The TECT program, which states that “[v]adadustat did not meet the primary security endpoint PRO2TECT program, defined as non-inferiority of vadadustat over darbepoetin alfa at the time of first occurrence [MACE.]”

Following these reports, Akebia’s share price fell $ 7.35 per share or 73.5% and closed at $ 2.65 per share on September 3, 2020.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading companies in the field of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in securities class action. Today, more than 85 years later, Pomerantz continues the tradition he has established and fights for the rights of victims of securities fraud, breaches of fiduciary duties and corporate misconduct. The company demanded a number of multimillion-dollar damages on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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