The complaint, filed by the Law Offices of Howard G. Smith, asserts that Aardvark Therapeutics misled shareholders between February 10, 2025, and May 14, 2026. According to the filing, the company failed to disclose that ARD-101 possessed a poorer safety profile than represented to the public. Consequently, the lawsuit argues that the firm’s clinical, regulatory, and commercial prospects were artificially inflated during this period, rendering public statements materially false.

Affected shareholders seeking to recover losses may contact the Law Offices of Howard G. Smith at (215) 638-4847 or via email at [email protected] to discuss their legal standing. While investors have the option to seek lead plaintiff status, they are not required to take immediate action to remain members of the class, as they may retain independent counsel or choose to stay as absent class members.