A third derivative suit has been filed against kidney drug developer Tricida Inc. in the U.S. District Court for the District of Delaware, alleging company leadership’s misleading statements caused stock prices to plummet.

The complaint filed May 27 by Ryan M. Ernst of Bielli & Klauder echoes the two others made this year in its claims that San Francisco-based Tricida officials promoted Veverimer, the company’s only drug candidate, as well on its way to approval despite knowing the Food and Drug Administration wasn’t actually likely to approve the drug, which is aimed at treating chronic kidney disease.