NEW YORK, March 19, 2013 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Keryx Biopharmaceuticals, Inc. ("Keryx" or the "Company") (Nasdaq: KERX) stock between June 1, 2009 and April 1, 2012.
For more information, click here: http://zlk.9nl.com/keryx-biopharmaceuticals-kerx/ .
The complaint alleges that the Company issued materially false and misleading statements concerning the timing and success of its perifosine X-PECT Phase 3 Clinical Trial. As a result of these alleged misstatements, Keryx stock traded at artificially inflated prices. On April 2, 2012, Keryx disclosed that its Phase 3 Clinical Trial did not meet the primary endpoint of improving overall patient survival versus the drug Capecitabine and a placebo. Shares of Keryx fell from a close of $4.98 per share on March 30, 2012, to a close of $1.74 per share the following business day.If you suffered a loss in Keryx you have until April 2, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/keryx-biopharmaceuticals-kerx/. Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (866) 367-6510 www.zlk.com SOURCE Levi & Korsinsky