Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action lawsuit has been filed against Keryx Biopharmaceuticals, Inc. (“Keryx” or “Company”) (NasdaqCM: KERX). The firms are investigating additional legal claims against the officers and Board of Directors of Keryx during the period of June 1, 2009 to April 1, 2012 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In a recently filed federal class action complaint, Keryx and certain of its officers were alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that during the Class Period, the defendants misled investors about the timing and success of Keryx’s clinical trial regarding the effectiveness of perifosine for treating colorectal cancer, and the likelihood that it would be approved by the FDA. According to the complaint, after the truth about perifosine’s inability to treat this cancer was disclosed, the stock price dropped precipitously harming Keryx investors.
“The revelations about alleged improper business practices and procedures regarding key aspects of Keryx’s business and other misleading statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Keryx’s officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Keryx stock for all shareholders,” said shareholder rights attorney Patrick Powers.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.