Ventyx Biosciences, Inc. Class Action Lawsuit - VTYX
Case Summary
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The Ventyx class action lawsuit seeks to represent purchasers or acquirers of Ventyx Biosciences, Inc. (NASDAQ: VTYX): (i) securities between October 21, 2021 and November 6, 2023, inclusive (the “Class Period”); and/or (ii) common stock pursuant and/or traceable to Ventyx’s registration statement issued in connection with Ventyx’s October 21, 2021 initial public offering (“IPO”). Captioned Yuksel v. Ventyx Biosciences, Inc., No. 24-cv-00415 (S.D. Cal.), the Ventyx class action lawsuit charges Ventyx and certain of Ventyx’s top current and former executives and directors with violations of the Securities Act of 1933 and/or Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Ventyx class action lawsuit, please provide your information in the form on this page. You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Ventyx class action lawsuit must be filed with the court no later than April 30, 2024.
CASE ALLEGATIONS: Ventyx is a clinical-stage biopharmaceutical company that develops small molecule product candidates to address a range of inflammatory diseases. According to the complaint, in 2022, Ventyx initiated a Phase 2 clinical trial of VTX958 for the treatment of moderate to severe plaque psoriasis.
The Ventyx class action lawsuit alleges that defendants throughout the Class Period and in the IPO’s offering documents made false and/or misleading statements and/or failed to disclose that: (i) VTX958 was less effective in treating psoriasis than Ventyx and the other defendants had led investors to believe; (ii) as a result, VTX958’s clinical and/or commercial prospects were overstated; (iii) accordingly, Ventyx had misrepresented its ability to develop and commercialize effective product candidates; and (iv) Ventyx’s post-IPO business prospects were thus inflated.
The Ventyx class action lawsuit further alleges that on November 6, 2023, Ventyx disclosed that, “[a]lthough the [Phase 2] trial achieved its primary endpoint, the magnitude of efficacy observed did not meet our internal target to support advancement of VTX958 in plaque psoriasis.” The complaint further alleges that based on these results, Ventyx announced that it “will terminate ongoing activities in the Phase 2 plaque psoriasis trial effective immediately” and “terminate the ongoing Phase 2 trial of VTX958 in psoriatic arthritis.” On this news, the price of Ventyx common stock fell more than 80%.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Ventyx securities during the Class Period and/or common stock pursuant and/or traceable to the IPO to seek appointment as lead plaintiff in the Ventyx class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Ventyx class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Ventyx class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Ventyx class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm was ranked #1 on the ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller topped the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.