| COMPANY |
ChemoCentryx, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
21-cv-03343 |
| JUDGE |
The Honorable Jon S. Tigar |
| CLASS PERIOD |
November 26, 2019 and May 6, 2021 |
| SECURITY TYPE |
Common Stock |
Case Background:
On May 5, 2021, the initial complaint in this securities class action was filed against ChemoCentryx, Inc. (“ChemoCentryx” or the “Company”) and certain of ChemoCentryx’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all persons who purchased or otherwise acquired ChemoCentryx securities between November 26, 2019 through May 3, 2021, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the class period, Defendants made materially false and misleading statements and omitted to disclose material information regarding avacopan, which the Company describes as “a potential first-in-class, orally-administered molecule that employs a novel for the treatment of patients with ANCA vasculitis Specifically, the complaint alleges that Defendants misrepresented and/or failed to disclose to investors that: (1) the study design of the Phase III ADVOCATE trial presented issues about the interpretability of the trial data to define a clinically meaningful benefit of avacopan and its role in the management of ANCA-associated vasculitis; (2) the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan; (3) these issues presented a substantial concern regarding the viability of ChemoCentryx’s NDA for avacopan for the treatment of ANCAassociated vasculitis; and (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Current Status of Case:
On Mach 6, 2024, the Court certified the Class in this action which consists of persons and entities who purchased or otherwise acquired the common stock of ChemoCentryx from November 26, 2019 through May 6, 2021, inclusive. This case is in the discovery phase and is ongoing.
To learn more about the class certification notice and to get additional information concerning your rights as a class member, please go to: https://www.chemocentryxsecuritieslitigation.com/home/documents/.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.