Governance & Derivative
Reata Pharmaceuticals, Inc. (NasdaqGM: RETA)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Reata Pharmaceuticals, Inc. (NasdaqGM: RETA).
In December 2021, the U.S. Food and Drug Administration (“FDA”) released briefing documents regarding the Company’s product, bardoxolone, stating that “the FDA review team d[id] not believe the submitted data demonstrate that bardoxolone is effective in slowing the loss of kidney function in patients with AS and reducing the risk of progression to kidney failure” and subsequently, the FDA’s Advisory Committee unanimously decided that bardoxolone was not effective based on the submitted data.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains pending.
KSF’s investigation is focusing on whether Reata officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Reata shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (email@example.com), or fill out the form on this page.