LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Chinook Therapeutics, Inc. (“Chinook” or “the Company”) (NASDAQ: KDNY) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Chinook is the subject of a report issued by Muddy Waters Research on May 16, 2023. According to the report, the Company’s lead product candidate “has been shown to be harmful to patients’ cardiovascular health”, and that “AbbVie and Chinook seem to have systemically manipulated research findings and presentation on atrasentan to obscure these trial results.” Based on this news, shares of Chinook fell by almost 4.5% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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