Keryx Biopharmaceuticals, Inc. ("Keryx" or the Company) is an American biopharmaceutical company that is focused on the development and commercialization of medicines for chronic kidney diseases.

According to the law firm press release, the Complaint filed in this lawsuit alleges that throughout the Class Period, 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 made false and/or misleading statements and/or failed to disclose: (1) that the Company was experiencing production-related difficulties in converting API to finished drug product; (2) that the issue was resulting in decreased production yields of finished drug product; (3) that, as a result, the Company would, and did, exhaust its reserve of finished drug product; and (4) that, as a result of the foregoing, Defendants’ statements about Keryx’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On April 6, 2017, the Court granted the motion to transfer this action to the District of Massachusetts. On August 31, this case was consolidated under Docket 16-CV-11745.

On December 28, 2016, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 27, 2017. Defendants filed a Motion to Dismiss the amended Complaint on October 2. On July 19, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. On February 27, 2019, Defendants filed a Motion for Judgment. On April 1, one of the Lead Plaintiffs voluntarily dismissed his claims against all Defendants. The remaining Lead Plaintiff filed a Motion for Class Certification on April 30. On September 23, the Court issued an Order denying the Motion for Class Certification, allowing Defendants' Motion for Judgment, and dismissing the remaining individual claims against the Defendants. On September 24, Lead Plaintiff filed a notice appealing the District Court's Order. The Court of Appeals affirmed the District Court's Judgment on June 21, 2021.