1. Pomerantz LLP investigates Travere for possible securities fraud claims. 2. Investors are advised to contact for joining the class action. 3. FDA plans to discuss approval for FILSPARI treatment on May 15, 2025. 4. Travere's stock dropped 20.57% post-FDA advisory committee announcement.
The stock experienced a significant drop in response to news of potential fraud investigation and regulatory scrutiny, mirroring past trends where similar announcements led to price declines in biotech stocks. Historical case studies show that such investigations often precede negative market reactions.
The investigation could lead to significant legal and financial ramifications for TVTX, affecting investor confidence. The combination of FDA scrutiny and a possible class action makes the situation critical for stakeholders.
Immediate impacts are anticipated due to investor reaction and potential class action implications. Similar cases have shown that news related to legal scrutiny can lead to volatility within weeks.
/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.
Click here for information about joining the class action
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