AMARIN CORPORATION PLC INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against Amarin Corporation plc
NEW YORK, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces the filing of a federal securities class action lawsuit in the United States District Court for the District of New Jersey on behalf of purchasers of the securities of Amarin Corporation plc (NASDAQ: AMRN) (“Amarin” or the “Company”) from September 24, 2018 through November 9, 2018, inclusive (the “Class Period”).
Investors who purchased shares of Amarin Corporation plc are urged to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.
If you have incurred losses in the shares of Amarin Corporation plc, you may, no later than April 23, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Amarin Corporation plc.
According to the filed complaint, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
-- the top-line results Amarin touted concerning its REDUCE-IT trial for Vascepa, a drug intended to treat cardiovascular disease, were not as positive as Amarin had represented; -- the placebo given to patients in the control arm of the REDUCE-IT trial may have increased the rate of cardiovascular events in those patients; and -- as a result, Amarins public statements were materially false and misleading at all relevant times.
On September 24, 2018, Amarin issued a press release stating that the company’s REDUCE-IT cardiovascular outcomes study had shown a 25% relative risk reduction for patients taking Vascepa. As a result, Amarin’s securities increased more than 414% that day.
Less than two months later, at the Scientific Sessions of the American Heart Association on November 10, 2018, scientists presented the results of the REDUCE-IT trials. The scientists disclosed that the placebo given to the patients may have caused cardiovascular problems in the patients taking it, citing an increase in “bad” LDL cholesterol.
As a result, Amarin’s stock price dropped nearly 27% to close at $15.38 per share on November 13, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: email@example.com, firstname.lastname@example.org or email@example.com Tel: (800) 575-0735 or (212) 545-4774
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