The complaint, filed in the U.S. District Court for the Southern District of California by Wolf Haldenstein Adler Freeman & Herz LLP, centers on allegations that Aardvark Therapeutics failed to accurately disclose the risks associated with ARD-101. Plaintiffs claim that the firm’s public statements concerning the clinical and commercial potential of the drug were materially false, masking underlying safety concerns that eventually compromised the company’s flagship trial.
Aardvark Therapeutics Faces Class Action Lawsuit Over Safety Disclosures
Investors who purchased Aardvark Therapeutics stock between February 13, 2025, and May 14, 2026, face an October 13, 2026, deadline to join a securities class action. The lawsuit alleges that the company misled shareholders regarding the safety profile of its lead drug candidate, ARD-101, leading to significant financial losses.
The situation shifted on February 27, 2026, when Aardvark announced a voluntary pause of its Phase 3 HERO trial. The company cited reversible cardiac observations identified in a separate study of healthy volunteers. Following this disclosure, Aardvark shares plummeted by $7.02, or 56.2%, closing at $5.47 on March 2, 2026. Investors seeking to participate in the litigation or those with relevant information are encouraged to contact Gregory Stone at Wolf Haldenstein for a confidential review of their potential claims.
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