According to the lawsuit, defendants issued materially false and misleading statements about Amarin’s true business and financial condition in violation of the federal securities laws. Specifically, the complaint alleges that: (i) defendants misrepresented the prospects for U.S. Food and Drug Administration (“FDA”) approval of Amarin’s lead product Vascepa, which reduces triglycerides levels in adult patients; and (ii) defendants failed to disclose that the FDA had informed Amarin that there was a lack of prospective, controlled clinical trial data indicating that pharmaceutical reduction of triglycerides significantly reduces residual cardiovascular risk. The complaint alleges that investors who purchased the Company’s ADSs at artificially inflated prices during the Class Period suffered damages when the truth about the Company’s financial condition was revealed to the market at certain times during the Class Period and the price of the Company’s ADSs declined.Kantrowitz, Goldhamer & Graifman, P.C. has been retained by a purchaser of Amarin common stock seeking to recover damages on his own behalf and on behalf of a class of purchasers of Amarin ADSs. Kantrowitz, Goldhamer & Graifman, P.C. has litigated many class actions for violations of securities laws on behalf of defrauded investors over the past 20 years and has obtained court approval of substantial settlements on numerous occasions. Kantrowitz, Goldhamer & Graifman, P.C. has offices in New York and New Jersey. The Kantrowitz, Goldhamer & Graifman, P.C. website ( www.kgglaw.com) has more information about the firm. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kantrowitz, Goldhamer & Graifman, P.C. has filed a class action lawsuit against Amarin Corporation plc (“Amarin”), Joseph S. Zakrzewski (Amarin’s Chief Executive Officer) and John F. Thero (Amarin’s Principal Financial and Accounting Officer), in the United States District Court for the District of New Jersey, on behalf of all purchasers of American Depository Shares (“ADSs”) of Amarin (NASDAQ: AMRN) on the open market, or pursuant to Registration Statements filed with the SEC, between July 9, 2009 through October 15, 2013 (the “Class Period”) seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”). American Depositary Shares are frequently referred to as “ADSs” and is a vehicle for a foreign corporation to list their ordinary equity on an American stock exchange. ADSs may be represented by certificates that are commonly known as “American Depositary Receipts,” or “ADRs.” If you are a member of the Class described above and you wish to serve as a lead plaintiff you may move the Court no later than January 3, 2014; however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel Gary S. Graifman, Esq. at Kantrowitz, Goldhamer & Graifman, P.C., at 800-660-7843 or via email to email@example.com or Melissa Emert, Esq. at Stull, Stull & Brody at (954)-341-5561, or via e-mail to firstname.lastname@example.org. Any member of the putative 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. NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.