NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Reata Pharmaceuticals, Inc. (“Reata” or the “Company”) RETA. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation concerns whether Reata and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On May 10, 2023, Reata issued a press release announcing its financial results for the first quarter of 2023. Among other things, Reata announced its decision to discontinue trials for its kidney disease candidate bardoxolone, which the company previously proposed as one of its lead assets in partnership with Blackstone Life Sciences and Kyoma Kirin.
As a result of this news, Reata’s stock price fell $14.99 per share, or 14.23%, to close at $90.38 per share on May 10, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Pomerantz was founded by the late Abraham L. Pomerantz, Dean of the Class Bar Association, and pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The company has recovered billions of dollars in damages on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
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