STEVENSON, Md., Oct. 09, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Amicus Therapeutics, Inc. (Nasdaq:FOLD) (“Amicus” or the “Company”) common stock during the period between September 15, 2015 and October 1, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until December 7, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in common stock purchased on or after September 15, 2015 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company common stock during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that contrary to their press release on September 15, 2015 in which they represented that Amicus received positive news from a Pre-New Drug Application (“NDA”) meeting with the Food and Drug Administration (“FDA”) for its oral small molecule pharmacological chaperone migalastat for the treatment of Fabry disease and contrary to defendants’ public statement that based on information provided by the FDA the NDA was on track for filing in the fourth quarter of 2015, in truth, as the Company disclosed only 17 days later, the FDA news was not positive and that it would no longer be in a position to submit its NDA in the fourth quarter of 2015.
According to the complaint, following this revelation, the value of Amicus shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.