A lawsuit was filed on behalf of investors in Amarin Corporation plc (NASDAQ: AMRN) shares over alleged securities laws violations
An investor, who purchased shares of Amarin Corporation plc (NASDAQ: AMRN), filed a lawsuit in the over alleged violations of Federal Securities Laws by Amarin Corporation plc.
Investors who purchased shares of Amarin Corporation plc (NASDAQ: AMRN) have certain options and for certain investors are short and strict deadlines running. Deadline: December 23, 2021. NASDAQ: AMRN investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
Ireland based Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States.
Amarin lead product since 2008 is Vascepa®, a prescription grade ultra-pure omega-3 fatty acid derived from fish oil.
On March 30, 2020, Amarin Corporation plc announced that the United States District Court for the District of Nevada had “rul[ed] in favor of the generic companies in the company’s patent litigation against two filers of … ANDA s … for Amarin’s VASCEPA® (icosapent ethyl) capsule franchise.”
On September 2, 2020, as the Court of Appeals for the Federal Circuit heard oral arguments for Amarin’s patent litigation, and the next day, affirmed the District Court’s ruling.
Then, on April 12, 2021, Amarin Corporation plc announced the retirement of John F. Thero, the Company’s President and CEO.
Finally, on June 21, 2021, investors learned “that the Supreme Court rejected the [C]ompany’s bid to revive Vascepa® patents.”
Shares of Amarin Corporation plc (NASDAQ: AMRN) declinedfrom over $24.00 per share in December 2019, to as low as $3.84 per share on July 27, 2021.
According to the complaint the plaintiff alleges on behalf of purchasers of Amarin Corporation plc (NASDAQ: AMRN) common shares between December 5, 2018, and June 21, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 5, 2018, and June 21, 2021, the Defendants made false and misleading statements and/or failed to disclose that there was an increasingly high risk that certain of Amarin’s patents would be invalidated, that once certain of Amarin’s patents were invalidated by the United States District Court for the District of Nevada, there was little to no chance of reversing that ruling, that the Company’s litigation was preventing it from effectuating a successful takeover, that Defendants were downplaying the true threat the ongoing Abbreviated New Drug Application (“ANDA”) litigation posed to the Company’s business and future prospects, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Those who purchased shares of Amarin Corporation plc (NASDAQ: AMRN) have certain options and should contact the Shareholders Foundation.
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