1. Pomerantz LLP investigates potential securities fraud by Travere Therapeutics. 2. FDA plans advisory meeting for Travere's supplemental New Drug Application. 3. TVTX stock fell 20.57% post FDA advisory announcement.
The stock price drop of over 20% indicates investor concern about potential fraud and regulatory approval challenges. Historical cases show that similar news often results in significant stock declines, especially if investors lose confidence in management.
Given the potential for securities fraud and its impact on investor sentiment, this situation is likely to significantly affect stock price. The FDA's involvement adds to the urgency of the situation.
Immediate investor reactions to potential fraud will likely impact TVTX stock in the short term. If the investigation concludes without further negative findings, the stock may stabilize or recover.
NEW YORK, May 20, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Travere Therapeutics, Inc. ("Travere" or the "Company") (NASDAQ: TVTX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Travere and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 15, 2025, Travere issued a press release disclosing that the U.S. Food and Drug Administration ("FDA") "has indicated that it is currently planning to hold an advisory committee meeting to discuss" the Company's "supplemental New Drug Application (sNDA) for traditional approval of FILSPARI (sparsentan) for the treatment of focal segmental glomerulosclerosis (FSGS)."
On this news, Travere's stock price fell $4.35 per share, or 20.57%, to close at $16.80 per share on May 16, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP