Robbins Arroyo LLP: Ampio Pharmaceuticals, Inc. (AMPE) Misled Shareholders According to a Recently Filed Class Action
SAN DIEGO & ENGLEWOOD, Colo.--(BUSINESS WIRE)--Aug 30, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Ampio Pharmaceuticals, Inc. (NYSE: AMPE) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between December 14, 2017 and August 7, 2018. Ampio, a biopharmaceutical company, develops therapies to treat prevalent inflammatory conditions in the United States. The company is developing a drug known as Ampion to treat pain due to osteoarthritis of the knee.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/ampio-pharmaceuticals-inc-2/
Ampio Accused of Using Trade Secrets to Enhance Its Product
According to the complaint, Ampio reported in an SEC filing that the company had successfully completed a pivotal clinical trial for Ampion, AP-003-A, and subsequently reported positive results from its AP-003-C trial. As the U.S. Food and Drug Administration (“FDA”) required two pivotal trials in support of a Biologics License Application (“BLA”) for Ampion, Ampio, encouraged by the results, predicted Ampion would serve as a safe and effective treatment for patients. However, on August 7, 2018, Ampio revealed that the FDA did not consider the AP-003-C trial to be an adequate and well-controlled clinical trial. Further, the FDA recommended that Ampio perform an additional randomized trial in order to support a BLA. On this news, Ampio’s stock price plummeted over 78% to close at $0.61 per share on August 8, 2018.
Ampio Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20180830005899/en/
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SOURCE: Robbins Arroyo LLP
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PUB: 08/30/2018 07:31 PM/DISC: 08/30/2018 07:31 PM