Aardvark Therapeutics Investors Face October Deadline in Fraud Lawsuit

The lawsuit, filed by the Rosen Law Firm, claims that Aardvark Therapeutics issued a registration statement and prospectus for its February 2025 initial public offering that contained materially false or misleading information. According to the complaint, the company failed to disclose that ARD-101 was less safe than publicly represented, which artificially inflated the drug's clinical and regulatory prospects. Investors allegedly suffered financial losses once the true nature of these risks entered the market.

While a class action has been initiated, no class has yet been certified. Shareholders are not required to take immediate action to remain part of the class, though those wishing to influence the litigation as lead plaintiff must file a motion with the court by the October deadline. Retaining counsel is optional, and investors may choose their own representatives or remain absent class members until further developments occur.