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Dec. 24, 2013 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has commenced in the United States District Court for the District of
New Jersey on behalf of investors who purchased Amarin Corp. plc ("Amarin" or the "Company") (NasdaqGM: AMRN) common stock between
July 9, 2009 and
October 15, 2013.
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The complaint alleges that Defendants made false and/or misleading statements regarding the likelihood that its drug Vascepa would be approved by the Food and Drug Administration for the ANCHOR indication. It is further alleged that Amarin failed to disclose that the FDA had informed the Company there was a lack of prospective, controlled clinical trial data that pharmaceutical reduction of triglycerides significantly reduces residual cardiovascular risk.
October 11, 2013, Amarin shares fell more than 20% to close at
$5.09 after the FDA released its briefing documents for the
October 16, 2013 advisory committee review of Amarin's application to expand the use of its drug Vascepa. The FDA briefing documents raised questions about the mineral oil placebo potentially negatively impacting the control group data and consequentially overstating Vascepa's effectiveness. Then on
October 30, 2013, Amarin disclosed that the FDA had rescinded the ANCHOR study special protocol assessment agreement. Shares of Amarin closed at
$1.64 per share on
November 1, 2013.
If you suffered a loss in Amarin you have until
January 3, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact
Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 24th Floor
New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP