LOS ANGELES, Sept. 24, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ardelyx, Inc., (“Ardelyx” or the "Company") (NASDAQ: ARDX) investors of a class action on behalf of investors that bought securities between January 13, 2025 and August 6, 2026, inclusive (the “Class Period”). Ardelyx investors have until November 16, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/ardelyx-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
In addition to claims under Section 10(b) of the Exchange Act and Rule 10b-5, the complaint asserts Section 20(a) control person liability against all four executive defendants. For investors, this mechanism establishes direct accountability: because these officers allegedly exercised authority over the misleading representations, they can be held individually liable for shareholder losses rather than hiding behind the corporate entity.
The complaint details several bases for control person liability, asserting that the defendants had:
- Direct oversight over the reaffirmed long-term sales projections exceeding $1 billion for IBSRELA and $750 million for XPHOZAH.
- Management responsibility for the commercial access strategy, including the ArdelyxAssist patient services initiative and the expanded team of field access managers.
- Executed Sarbanes-Oxley Section 302 and Section 906 certifications as Chief Executive Officer and Chief Financial Officer, verifying the accuracy of the company's SEC filings.
- Direct access to non-public material facts regarding heightened prior authorization demands and step-edit restrictions that hindered new patient adoption.
- The authority and opportunity to prevent the publication of the false statements or to issue corrective disclosures prior to their release.
- Oversight during a Chief Financial Officer transition on November 4, 2025, which split SOX certification obligations between two different financial executives during the Class Period.
Finally, the suit asserts that the contested disclosures represent group-published information stemming from the shared actions of the executive defendants, and that their collective knowledge is attributable to Ardelyx under legal agency doctrine.
The Portnoy Law Firm represents investors in pursuing claims caused by 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.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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