#United States #San Francisco #Hagens Berman #Aardvark Therapeutics #ARD-101

Aardvark Therapeutics Under Fire: Class Action Lawsuit Filed

Aardvark Therapeutics, Inc., which operates under the ticker NASDAQ: AARD, has recently come under significant scrutiny as the national shareholder rights firm Hagens Berman Sobol Shapiro LLP announces a class action lawsuit on behalf of affected investors. This legal action stems from alleged misrepresentations regarding the safety and efficacy of their primary drug, ARD-101, intended to address hyperphagia in patients with Prader-Willi Syndrome (PWS).

Background of the Lawsuit

The class action focuses on investors who purchased or acquired Aardvark shares in connection with the company's initial public offering (IPO) around February 13, 2025, as well as during a subsequent period extending to May 14, 2026. The lawsuit claims that Aardvark made materially false statements and failed to reveal critical safety information pertaining to ARD-101. Investors are urged to contact Hagens Berman to claim their rights and explore potential recovery options.

Key Allegations

Several alarming allegations highlight the seriousness of the case:

• - Misleading Statements: The plaintiff claims that the company misrepresented the safety profile of ARD-101, suggesting it was safer than it actually was.
• - Cardiac Issues: Drug trials uncovered unexpected cardiac effects, including QRS prolongation at higher doses, which were not disclosed to investors.
• - Overstated Prospects: As a result of these issues, Aardvark’s clinical trials and commercial prospects, especially the Phase 3 Hunger Elimination or Reduction Objective (HERO) trial, were overly optimistic.

Timeline of Events

On February 27, 2026, Aardvark announced a voluntary pause in its Phase 3 HERO trial in response to serious cardiac observations noted during routine safety oversight. This revelation led to a staggering 56% decline in the company's stock price. Shortly afterward, on May 14, 2026, the U.S. FDA imposed a complete clinical hold on their investigational new drug application for ARD-101, leading to an additional 32.1% drop in shares.

The lawsuit has prompted Hagens Berman, the firm leading the legal effort, to thoroughly investigate these allegations. Partner Reed Kathrein has emphasized the importance of this case for investors, suggesting that misleading information related to the drug's development could have serious financial implications for shareholders.

What’s Next for Aardvark Investors?

Investors affected by Aardvark’s stock performance are invited to join the class action and potentially become lead plaintiffs. The crucial deadline to act is October 13, 2026. Aardvark investors facing losses are encouraged to contact the law firm at the provided contact details to learn more about their rights and recovery options.

Furthermore, individuals with insider information regarding Aardvark may find opportunities to aid in the ongoing investigation, with potential rewards through the SEC Whistleblower program.

About Hagens Berman

Hagens Berman is a prominent plaintiffs' rights complex litigation firm that focuses on securing justice for those adversely affected by corporate wrongdoing. The firm has a proven track record, having successfully attained over $2.9 billion in collective recoveries for investors and others harmed by corporate negligence.

For detailed information and updates regarding the litigation against Aardvark Therapeutics, visit Hagens Berman's website. Investors are encouraged to stay informed and to understand the implications of the lawsuit for their holdings in Aardvark.

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