PR Newswire · Press release
TENX Shareholder Alert: Tenax Therapeutics, Inc. Securities Class Action Lawsuit - Investors With Losses May Contact SueWallSt
Original release from PR Newswire
As distributed by PR Newswire, unedited.
Notice to Pension Funds, Asset Managers, and Fiduciaries: the lawsuit alleges Tenax overstated TNX-103's clinical prospects while raising $134 million, largely through private placements, before its Phase 3 LEVEL trial missed its primary endpoint.
NEW YORK, Nov. 5, 2026 /PRNewswire/ -- SueWallSt notifies institutional investors, ERISA plan fiduciaries, and asset managers that a class action lawsuit has been filed on behalf of purchasers of Tenax Therapeutics, Inc. (NASDAQ: TENX) securities between November 13, 2023 and August 7, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.
TENX holders absorbed an 89.77% one-day decline on August 10, 2026, when Tenax reported that TNX-103 did not meet its primary or key secondary endpoints in the Phase 3 LEVEL study. Before that announcement, the securities action alleges, the Company collected $134 million in gross proceeds from securities sold to the public and directly to institutional investors. The window to apply for lead plaintiff closes on December 28, 2026.
Portfolio Impact Assessment
For investors who held TENX shares, the August 10 decline resulted in a one-day stock-price drop of approximately 89.77%. The complaint alleges that management overstated TNX-103's clinical, regulatory, and commercial prospects throughout the Class Period. The Company also closed an approximately $100 million private placement in August 2024, which the complaint discusses in connection with "top-tier biotech investors" and institutional sales.
ERISA and Fiduciary Considerations
Pension plans, endowments, and other fiduciaries with TENX exposure may wish to document their Class Period transactions and weigh whether a leadership role in the case, pending in the U.S. District Court for the Middle District of North Carolina, serves their beneficiaries.
"Institutional investors play a critical role in securities class actions, particularly where, as alleged here, a company raised capital directly from sophisticated buyers while describing its lead drug candidate in confident terms. Funds that took part in the Tenax financings, or that bought shares in the open market, may want to assess whether the alleged misstatements affected their positions," said Joseph E. Levi, Esq., managing partner of SueWallSt.
Fiduciary Obligations and Recovery Options
- The Class Period covers purchases or other acquisitions of TENX securities from November 13, 2023 through August 7, 2026.
- Courts generally appoint the lead plaintiff movant with the largest financial interest, a standard that often favors institutions.
- A lead plaintiff directs the litigation on behalf of the class and selects counsel, subject to court approval.
- Institutions that do not seek appointment generally remain eligible to share in any recovery as absent class members.
- Evaluating a potential claim involves no out-of-pocket cost.
Learn more about the case and your options or call (888) SueWallSt.
WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the TENX Lawsuit
Q: When did Tenax Therapeutics allegedly mislead investors? A: The Class Period runs from November 13, 2023 to August 7, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.
Q: What court was the TENX class action filed in? A: The case was filed in the United States District Court for the Middle District of North Carolina, governed by the Private Securities Litigation Reform Act of 1995.
Q: Who are the defendants named in the TENX lawsuit? A: The complaint names Tenax Therapeutics, Inc. and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.
Q: What if I already sold my TENX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
View original content to download multimedia:https://www.prnewswire.com/news-releases/tenx-shareholder-alert-tenax-therapeutics-inc-securities-class-action-lawsuit---investors-with-losses-may-contact-suewallst-302930355.html
SOURCE SueWallSt.com
