BOSTON, March 31, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that it has opened an investigation into Amarin Corp. plc (Nasdaq: AMRN) and certain of its officers for potential securities fraud. Investors who have lost money are encouraged to contact the firm for a free case evaluation.
Amarin is a pharmaceutical company that has brought one drug to market, Vascepa®, which is used as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. Beginning in 2016, several would-be generic manufacturers filed applications with the U.S. Food and Drug Administration seeking to market generic versions of Vascepa®. Amarin sued each generic applicant for patent infringement, seeking to extend its period of exclusivity through 2030.
The Court held a bench trial in January 2020. After the markets closed on March 30, 2020, the Court issued a decision finding that all the patents asserted by Amarin were invalid. This means that Amarin lost its patent infringement case, and that the generic manufacturers will be able to bring their products to market much sooner. In afterhours trading, Amarin’s American Depository Shares (ADS) plummeted by over 67%.
If you purchased or acquired Amarin ADS on a U.S. exchange and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorney Stephen Teti at (617) 398-5600, via email at steti@blockesq.com or at https://shareholder.law/amarin.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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Phone: (617) 398-5600
Email: steti@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com