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TCDA.US
id: 1391

Tricida (TCDA) Investor Settlement

Late claims are being considered for compensation, subject to approval.
$14,250,000
Cash Settlement
N.D. California
Court
4:21-cv-00076
Case number
05/08/2020
Class period Start
05/26/2021
Class period End
10/01/2025
Claim deadline
Tricida reached a settlement with $TCDA investors over claims that it misled them about FDA approval prospects for its kidney drug.

Overview


In 2020, Tricida was accused of hiding information about its clinical trial data and the prospects of FDA approval for Veverimer. Following this, $TCDA dropped 39% and Tricida faced a lawsuit from investors.


Timeline

  • July 15, 2020 – Tricida submitted an NDA for Veverimer.
  • August 21, 2020 – The FDA issued a Complete Response Letter, raising concerns about trial design and data reliability, causing $TCDA to drop 39%.
  • March 7, 2021 – Investors filed a lawsuit, claiming Tricida misled them about Veverimer’s approval prospects and clinical trial data.
  • November 2024 – Tricida agreed to settle to resolve investor claims.

Background


In July 2020, Tricida assured investors that Veverimer’s clinical trial data was robust, citing its NDA submission and stating that the trial met the FDA’s safety and efficacy standards. The company emphasized these results as a strong basis for FDA approval.

However, on August 21, 2020, the FDA issued a Complete Response Letter, citing concerns over the trial design and the reliability of data collected from a single trial site in Eastern Europe, which provided a significant portion of the study's patient population. Following this news, $TCDA plummeted 39%.

In October 2021, Tricida failed to address the FDA’s concerns, leading to further approval delays. This announcement caused $TCDA to fall another 50%.

On January 6, 2021, investors filed a lawsuit, claiming that Tricida misled them about Veverimer’s approval prospects and the strength of its clinical trial data.


What Can Investors Expect Now?


Tricida has reached a settlement with $TCDA investors over claims that it misled them about FDA approval prospects for its kidney drug.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Case Type
US Securities Class Action
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements, 
Failure to Disclose
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.4
Filing date
01/06/2021
Plaintiffs
Jeffrey M. Fiore
Attorneys
Block & Leviton LLP
Defendants
Gerrit Klaerner
Judge
Haywood S. Gilliam, Jr.
Administrator
Kroll
Court hearing date
10/16/2025
Exclusion deadline
09/11/2025
Objection deadline
09/11/2025
Attorney fee
$4,418,750
Class wide damages
$85,000,000
Trades matching type
FIFO

Frequently Asked Questions

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