Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Amarin Corporation plc (NASDAQ GM: AMRN)?
- Did you purchase your shares between July 9, 2009 and October 16, 2013, inclusive?
- Did you lose money in your investment in Amarin Corporation plc?
- Do you want to discuss your rights?
According to the Complaint, in a Briefing Document published on October 11, 2013, the FDA both summarized its significant doubt expressed to Amarin in July 2008 that the reduction of TGs alone evidenced an improved risk of cardiac issues and stated that based on published test results first available to Amarin in 2010 that there was little indication that a reduction in TGs alone would improve the incidence of cardiac events. As a result, on October 16, 2013, an Advisory Committee rejected Amarin’s new drug application based on its ANCHOR study, adopting the FDA’s position that the ANCHOR study itself was not indicative of the efficacy of the drug to reduce severe cardiovascular events.On this news, shares in Amarin dropped more than 61%, closing at $2.01 per share on October 17, 2013, on extraordinarily heavy trading volume of over 105 million shares. If you wish to serve as lead plaintiff, you must move the Court no later than January 3, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.