NEW YORK and SAN DIEGO, Aug. 24, 2026 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a nationally recognized securities litigation law firm, announces that a securities class action lawsuit has been filed in the announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired Aardvark Therapeutics, Inc. (NASDAQ: AARD) (“Aardvark” or the “Company”):
- common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company’s Initial Public Offering (the “IPO” or “Offering”) conducted on or about February 13, 2025 and/or
- Aardvark securities between February 13, 2025, and May 14, 2026, both dates inclusive (the “Class Period”).
Investors who purchased Aadvark shares during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for October 13, 2026.
The filed Complaint alleges that Defendants failed to disclose to investors that:
- ARD-101 was less safe than Defendants had led investors to believe;
- accordingly, ARD-101’s clinical, regulatory, and commercial prospects were
overstated; and - as a result, Defendants’ public statements were materially false and misleading at all relevant times.
It is alleged that the truth began to emerge on February 27, 2026, when Aardvark issued a press release “announc[ing] it is voluntarily pausing the Phase 3 Hunger Elimination or Reduction Objective (HERO) trial.” Aardvark attributed the decision to “reversible cardiac observations at above target therapeutic doses found during routine safety monitoring in a healthy volunteer study” and said that it “has voluntarily paused ongoing enrollment and dosing in the HERO trial” while “conducting a comprehensive review of the data to inform next steps.”
On this news, Aardvark’s stock price fell $7.02 per share, or 56.2%, to close at $5.47 per share on March 2, 2026.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
There is no cost or obligation to speak with an attorney.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
- Email: classmember@whafh.com
- Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
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