BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Amarin Corporation plc (NASDAQ: AMRN) (“Amarin” or the “Company”) 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.
On November 12, 2018, an article was published on Seeking Alpha regarding Amarin’s “recent revelations of positive topline results” from its REDUCE-IT trial for Vascepa, its sole product. The article raised the possibility 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, Amarin’s 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 Amarin touted about its 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, Amarin's public statements were materially false and misleading at all relevant times.
If you purchased shares of Amarin, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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