Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit on Behalf of Investors of Aegerion Pharmaceuticals, Inc.

Business Wire

LOS ANGELES--(BUSINESS WIRE)--

Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the “Class”) comprising all purchasers of the securities of Aegerion Pharmaceuticals, Inc. (“Aegerion” or the “Company”) (AEGR) between March 15, 2012 and January 9, 2014, inclusive (the “Class Period”).

A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.

Aegerion markets its cholesterol drug Juxtapid in the United States. Juxtapid is the sole FDA-approved Aegerion product. Juxtapid was approved by U.S. health regulators in December 2012 to treat patients with homozygous familial hypercholesterolemia (HoFH), a rare genetic disease that impairs the function of the receptor responsible for removing LDL-C or “bad” cholesterol from the blood.

The Complaint alleges that Aegerion’s marketing practices during the Class Period were in violation of the Food, Drug, and Cosmetic Act (FDCA), and that defendants made false and misleading statements or failed to disclose to Aegerion investors that:

  • the Company marketed its drugs in violation of the FDCA; and
  • as a result, the Company faced heightened regulatory scrutiny by the FDA and other governmental bodies.

On January 10, 2014, the Company received a subpoena from the U.S. Department of Justice requesting documents regarding its marketing and sale of Juxtapid. As a result of this news, Aegerion shares declined $ 7.98 per share, or nearly 11%, to close at $65.77 per share on January 10, 2013.

If you are a member of the Class described above, you may move the Court no later than March 17, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. 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 are a long-term shareholder of Aegerion and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact:
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
(888) 773-9224
or
Glancy Binkow & Goldberg LLP, New York, NY
Gregory Linkh
(212) 682-5340 or (888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com

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