Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
12/07/2020
Initial Lawsuit
01/06/2021
Lawsuit Progression
04/02/2021
Plaintiff brings this securities class action on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Tricida securities between September 4, 2019 and October 28, 2020, both dates inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) Tricida’s NDA for veverimer was materially deficient;
(ii) accordingly, it was foreseeably likely that the FDA would not accept the NDA for veverimer;
(iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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