Recent Security Class Actions
Unicycive Therapeutics Inc. Common Stock (NASDAQ: UNCY)
52 Days left to seek lead plaintiff status.
The complaint alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company had not inspected its third-party manufacturing vendor’s facility or otherwise audited the facility’s compliance with current good manufacturing practices; (2) that, as a result, the Company lacked a reasonable basis to believe that the vendor had resolved the FDA’s cited deficiencies; (3) that there was an undisclosed risk that the FDA would require additional information about the vendor’s facility’s manufacturing practices; (4) that, as a result of the foregoing, the regulatory approval of OLC was reasonably likely to be delayed; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
