Tricida (TCDA) Investor Settlement
Tricida reached a settlement with $TCDA investors over claims that it misled them about FDA approval prospects for its kidney drug.
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.
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.
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.
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.
Frequently Asked Questions
All persons who purchased or otherwise acquired Tricida’s publicly traded common stock during the period June 28, 2018, through February 25, 2021.
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 entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
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 $0.4 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.16 per share.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
1. Prepare documents for your payout
2. Audit the claim and make sure you get the maximum possible payout
3. File a claim with the settlement administration
4. Correspond with the settlement administration to resolve emerging issues
5. 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.