INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That Securities Class Action Lawsuits Have Been Filed Against Oatly Group AB (OTLY), ATI Physical Therapy, Inc. f/k/a Fortress Value Acquisition Corp. II (ATIP), and Ardelyx, Inc. (ARDX) and Encourages Investors to Contact the Firm
NEW YORK, Sept. 03, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of stockholders of Oatly Group AB, ATI Physical Therapy, Inc. f/k/a Fortress Value Acquisition Corp. II, and Ardelyx, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.
Oatly Group AB (“Oatly” or the “Company”) (NASDAQ: OTLY)
Class Period: May 20, 2021 to July 15, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: September 24, 2021
The lawsuits allege that Oatly and the other Defendants made materially false and/or misleading statements to investors during the Class Period. Specifically, the actions alleged that Oatly: (a) overinflated its gross margins, revenue, and capital expenditure financial metrics; (b) overstated the proprietary nature of its formulas and manufacturing process; (c) exaggerated its success in China; and (d) as a result of the foregoing, Oatly’s statements about its operations, business, and prospects were misleading during the Class Period.
For additional information on the Oatly lawsuits please visit this website.
ATI Physical Therapy, Inc. f/k/a Fortress Value Acquisition Corp. II (“ATI” or the “Company”) (NYSE: ATIP)
Class Period: April 1, 2021 to July 23, 2021
Pending Court: U.S. District Court for the Northern District of Illinois
Lead Plaintiff Deadline: October 15, 2021
The lawsuit alleges throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that ATI was experiencing attrition among its physical therapists; (2) that ATI faced increasing competition for clinicians in the labor market; (3) that, as a result of the foregoing, the Company faced difficulties retaining therapists and incurred increased labor costs; (4) that, as a result of the labor shortage, the Company would open fewer new clinics; 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.
For additional information on the ATI lawsuit please visit this website.
Ardelyx, Inc. (“Ardelyx” or the “Company”) (NASDAQ: ARDX)
Class Period: August 6, 2020 to July 19, 2021
Pending Court: U.S. District Court for the Northern District of California
Lead Plaintiff Deadline: September 28, 2021
The lawsuits allege throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose material adverse facts including: (1) Ardelyx repeatedly lauded this development, highlighting the U.S. Food and Drug Administration’s (“FDA”) acceptance and review of the New Drug Application (“NDA”), supported by so-called ‘successful’ Phase 3 studies, in each subsequently filed quarterly report and in the Company’s 2020 Annual Report; (2) the likelihood that tenapanor would be approved by the FDA; (3) Defendants possessed, were in control over, and, as a result, knew (or had reason to know) that the data submitted to support the NDA was insufficient in that it showed a lack of clinical relevance of the drug’s treatment effect, making it foreseeably likely (if not certain) that the FDA would not approve the drug.
For additional information on the Ardelyx lawsuits please visit this website.
About Kirby McInerney LLP:
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
investigations@kmllp.com
www.kmllp.com
