Levi & Korsinsky Files Class Action Lawsuit Against Ardelyx Over Stock Misrepresentations
News related to:Ardelyx, Inc · 2 min read
NEW YORK, Sept. 17, 2026 /CourierPR/ -- Levi & Korsinsky, LLP has filed a class action lawsuit against Ardelyx, Inc. (NASDAQ: ARDX) on behalf of investors who purchased the company’s stock between January 13, 2025, and August 6, 2026, inclusive. The lawsuit, Broadwater v. Ardelyx, Inc., et al. (Case No. 1:26-cv-14270), was filed in the United States District Court for the District of Massachusetts.
According to the complaint, Ardelyx’s management provided positive statements to investors while simultaneously disseminating false and misleading information about the company’s commercial performance and growth prospects for its drugs XPHOZAH and IBSRELA. Specifically, the complaint alleges that the company concealed significant payer-related access and reimbursement barriers that were affecting patient access, as well as more stringent prior authorization requirements and step edit requirements that slowed new-patient starts and delayed prescription fulfillment.
On August 6, 2026, Ardelyx issued a press release reducing its full-year 2026 IBSRELA revenue guidance and withdrawing its long-term XPHOZAH revenue guidance. The company attributed the reduction to significantly increased payer utilization-management processes that restricted patient access to IBSRELA and slowed new-patient starts. Additionally, the company withdrew its long-term XPHOZAH revenue guidance due to “evolving market dynamics” and uncertainty regarding future growth projections.
On the same day, the price of Ardelyx’s common stock fell dramatically. The stock closed at $4.87 per share, and by the next day, it had declined to $4.00 per share, a 18% drop in just one day.
Joseph E. Levi, a partner at Levi & Korsinsky, stated, “Our firm is committed to ensuring that investors receive full compensation for losses caused by corporate misrepresentations. We encourage ARDX shareholders to step forward before the November 16, 2026 deadline so we can pursue justice on their behalf.”
Levi & Korsinsky, LLP has a track record of representing investors in complex securities litigation. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders and has been ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. The firm has a team of over 70 employees dedicated to serving its clients.