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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against ChemoCentryx, Inc. (CCXI)

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NEW YORK, May 10, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against ChemoCentryx, Inc. (“ChemoCentryx” or the “Company”) (NASDAQ: CCXI) in the United States District Court for the Northern District of California on behalf of those who purchased or acquired the securities of ChemoCentryx between January 11, 2021 and February 22, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors under the federal securities laws.

According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the study design of the Phase III ADVOCATE trial presented issues about the interpretability of the trial data to define a clinically meaningful benefit of avacopan and its role in the management of ANCA-associated vasculitis; (2) the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan; (3) these issues presented a substantial concern regarding the viability of ChemoCentryx’s New Drug Application (“NDA”) for avacopan for the treatment of ANCA-associated vasculitis; and (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of ChemoCentryx during the Class Period should contact the Firm prior to the July 6, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.


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