Public

US Securities Class Action

Reata Pharmaceuticals (RETA) agreed to settle $45 million with shareholders to end claims over failing to disclose concerns about the validity of a clinical study for kidney disease candidate, bardoxolone.

Reata Pharmaceuticals developed a drug called bardoxolone for kidney disease. They applied for FDA approval, highlighting positive study results. 

However, Reata supposedly didn't reveal FDA concerns about the study's validity, risking the drug's approval.

On December 6, 2021, the FDA questioned the study design, causing $RETA to drop by 38%. 

Two days later, the FDA declared bardoxolone ineffective, leading to an additional 46% $RETA decline. 

Reata has now decided to resolve all the allegations and pay a $45M settlement.

Reata Pharmaceuticals Inc

All persons or entities who purchased or otherwise acquired the publicly traded common stock of Reata between November 14, 2016 and December 8, 2021, inclusive, including all persons or entities who purchased or otherwise acquired Reata common stock pursuant and/or traceable to Reata’s 2019 Offering and/or 2020 Offering.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $1.67 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $6.68 per share.

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

Audit the claim and make sure you get the maximum possible payout

File a claim with the settlement administration

Correspond with the settlement administration to resolve emerging issues

Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.

Reata Pharmaceuticals (RETA) $45M Shareholder Settlement

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