Securities Suit Filed Against Ardelyx Over Alleged Fraud

Investors have filed a securities class action against Ardelyx, alleging the company and certain executives misled shareholders about the commercial prospects of IBSRELA and XPHOZAH and failed to disclose payer restrictions that hindered patient access and new prescriptions. The lawsuit follows Ardelyx’s August 6, 2026, reduction of its 2026 IBSRELA revenue forecast and withdrawal of its long-term XPHOZAH guidance, citing increased utilization controls and uncertain market conditions. Ardelyx shares fell 17.86% on August 7, closing at $4.00. Investors who acquired Ardelyx securities during the alleged class period, January 13, 2025, through August 6, 2026, have until November 16, 2026, to seek appointment as lead plaintiff; the allegations have not been proven in court.