Keryx Biopharmaceuticals Inc. Investigated For Securities Fraud By Block & Leviton After Keryx Halts The Distribution Of Auryxia And Withdraws Its Full-Year Financial Forecast

BOSTON, Aug. 2, 2016 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Keryx Biopharmaceuticals Inc. ("Keryx" or the "Company") (NASDAQ: KERX) and certain of its officers and directors violated federal securities laws following the news of an imminent halt in the distribution of only marketed drug and the withdrawal of the Company's full-year forecast.

Shares in Keryx plunged approximately 36% on August 1, 2016 and continue to fall after the Company announced that patients who use Keryx's kidney drug Auryxia (the Company's only marketed product) will face an imminent supply interruption until at least October due to a "production-related issue." Because of this interruption, the Company also withdrew its full-year forecast. This news and the resultant stock drop has caused losses of tens of millions of dollars to investors.

If you have recently purchased or otherwise acquired Keryx securities and have questions about your legal rights or possess information relevant to this investigation, please contact attorneys Bradley Vettraino or Steven Harte at (617) 398-5600 or by email at [email protected] or [email protected]. Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.

Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 70 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.

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CONTACT:

Block & Leviton LLP
Bradley J. Vettraino
Steven P. Harte
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
[email protected]
[email protected]

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SOURCE Block & Leviton LLP