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LOS ANGELES, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Reata Pharmaceuticals, Inc. ("Reata" or "the Company") (NASDAQ: RETA) investors that acquired securities between October 15, 2019 and August 7, 2020.
It is alleged in the complaint that Reata made misleading and false statements to the market. Reata failed to produce MOXIe Part 2 study results from the FDA that were sufficient to support the marketing of approval for omaveloxolone for the treatment of FA without additional evidence. Based on the MOXIe Part 2 study alone, it was foreseeable that omaveloxolone would not be approved by the FDA for the treatment of FA. Reata’s public statements were false and materially misleading throughout the class period, based on these facts. Investors suffered damages when the market learned the truth about Reata.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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