SAN DIEGO, Feb. 23, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Michigan on behalf of certain purchasers of shares of Esperion Therapeutics Inc (NASDAQ:ESPR) over alleged Securities Laws Violations by Esperion Therapeutics.
Investors who purchased a significant amount of shares of Esperion Therapeutics Inc (NASDAQ:ESPR) between August 18, 2015 and September 28, 2015, and/or if you purchased any NASDAQ:ESPR shares prior to August 2015 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 14, 2016. NASDAQ:ESPR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that the defendants issued allegedly false and misleading statements and/or failed to disclose adverse information regarding Esperion's business and prospects, including that there was no clear path to approval for ETC-1002, and that the FDA had encouraged the Company to initiate a cardiovascular outcomes trial ("CVOT") and that completion of a CVOT could be necessary prior to approval of ETC-1002, and that as a result of these allegedly false statements and/or omissions, Esperion common stock traded at artificially inflated prices between August 18, 2015 and September 28, 2015, reaching as high as $82 per share.
On August 17, 2015, Esperion Therapeutics Inc reported material events from an early August 2015 meeting with the U.S. Food and Drug Administration (“FDA”) regarding the next phase of the approval process for ETC-1002. Esperion Therapeutics Inc stated that during the meeting it was informed by the FDA that Esperion Therapeutics Inc would not have to complete a CVOT to gain approval of ETC-1002. Esperion Therapeutics Inc also informed investors that it had a “‘clear regulatory path forward for development and approval of ETC-1002.’"
On September 28, 2015, Esperion Therapeutics Inc provided an update on the design and timing of its planned pivotal Phase 3 clinical development program following receipt of the official End-of-Phase 2 Meeting Minutes from the FDA.
Those who purchased Esperion Therapeutics Inc (NASDAQ:ESPR) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.