San Diego, CA -- (ReleaseWire) -- 02/04/2013 -- An investor in shares of Keryx Biopharmaceuticals (NASDAQ:KERX) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities by Keryx Biopharmaceuticals in connection certain allegedly false and misleading statements.
Investors who purchased shares of Keryx Biopharmaceuticals (NASDAQ:KERX) between June 1, 2009 and April 1, 2012, have certain options and there are short and strict deadlines running. Deadline: April 2, 2013. NASDAQ:KERX investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all persons who purchased Keryx Biopharmaceuticals (NASDAQ:KERX) securities between June 1, 2009 and April 1, 2012, that Keryx Biopharmaceuticals and its CEO violated the Securities Exchange Act of 1934.
Specifically, the complaint alleges that defendants mislead investors about the timing and success of Keryx's clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer.
On April 2, 2012, before the market opened, Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) reported that the Phase 3 "X-PECT" clinical trial evaluating perifosine (KRX-0401) + capecitabine (Xeloda) in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) dropped from $4.98 per share on Friday, March 30, 2012, to $1.74 per share on Monday, April 2, 2012 and continued to decline to as low as $1.28 per share on April 18, 2012.
On Feb. 1, 2013, NASDAQ:KERX shares closed at $7.11 per share.
Those who purchased shares of Keryx Biopharmaceuticals (NASDAQ:KERX) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego