Glancy Prongay & Murray LLP (GPM), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Amarin Corporation plc (Amarin or the Company) (NASDAQ: AMRN) securities between September 24, 2018 and November 8, 2018, inclusive (the Class Period). Amarin investors have until April 23, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On November 12, 2018, an article was published on Seeking Alpha regarding Amarins recent revelations of positive topline results from its REDUCE-IT trial for Vascepa, its sole product. The article raised the claim that the placebo group received an active agent that in effect was an anti-statin, and that the REDUCE-IT trial results may have consequently exaggerated the efficacy of Vascepa. On this news, Amarins American depositary receipt price fell $4.44, or 22%, to close at $15.38 on November 13, 2018, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the top-line results for Amarins REDUCE-IT trial for Vascepa were not as positive as the company represented; (2) the placebo given to patients in the control arm of REDUCE-IT may have increased the incidence of cardiovascular events in those patients; (3) as a result, Amarins public statements were materially false and misleading at all relevant times.
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If you purchased shares of Amarin during the Class Period you may move the Court no later than April 23, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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