The litigation centers on claims that Unicycive failed to audit its third-party manufacturing vendor, leaving the company without a legitimate basis to confirm that FDA-cited deficiencies had been addressed. According to the complaint, these omissions created an undisclosed risk of regulatory delays for the drug oxylanthanum carbonate (OLC). When these details reached the market, the share price suffered, resulting in investor losses.

The Rosen Law Firm, which filed the action, is currently organizing the class. Shareholders interested in serving as lead plaintiff must file a motion with the court before the November 2 deadline. Participation as a lead plaintiff is not required to share in any potential recovery, and investors retain the right to select their own counsel or remain absent class members while the litigation proceeds.