| COMPANY |
Reata Pharmaceuticals, Inc. |
| COURT |
United States District Court for the Eastern District of Texas |
| CASE NUMBER |
20-cv-00796 |
| JUDGE |
The Honorable Sean D. Jordan |
| CLASS PERIOD |
October 15, 2019 - August 7, 2020 |
| SECURITY TYPE |
Common Stock |
Case Background:
The Class Period commences on October 15, 2019. On October 14, 2019, during after-market hours, Reata issued a press release announcing positive topline results from the MOXIe Part 2 study of omaveloxolone for FA, and stating that Reata would seek marketing approval for omaveloxolone for treating FA in the U.S. based on those results. The press release quoted Reata’s Chief Executive Officer, J. Warren Huff, who represented, in relevant part, that “[t]he MOXIe trial with omaveloxolone is the first study to demonstrate a significant improvement in neurological function in patients with FA.”
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) the MOXIe Part 2 study results were insufficient to support a single study marketing approval of omaveloxolone for the treatment of FA in the U.S. without additional evidence; (2) as a result, it was foreseeable that the FDA would not accept marketing approval of omaveloxolone for the treatment of FA in the U.S. based on the MOXIe Part 2 study results; and (3) as a result, Reata’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On March 29, 2024, The Court entered Orders Approving Plan of Allocation, Awarding Attorneys’ Fees and Judgment Approving Class Action Settlement. This action has concluded.
The deadline to file a claim is April 24, 2024. If you have any questions or need further information about this settlement, you may go to the following website, www.ReataSecuritiesLitigation.com, or you can contact the claims administrator, Epic Global, Inc. at 1-877-664-7398.
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.