NEW YORK, May 17, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Amarin Corporation plc (“Amarin” or the “Company”) (NASDAQ: AMRN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Amarin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 4, 2022, pre-market, Amarin issued a press release reporting its financial results for the first quarter of 2022 and providing business updates. Among other items, Amarin reported a net loss that widened more than 18 times to -$31.6 million from -$1.6 million in the year-ago period, driven by a significant decline in revenue. Amarin reported that sales of its main product, the prescription fish oil pill Vascepa (icosapent ethyl) fell 33% due to the entry of a third generic version and an increase in rebates to some customers. Amarin also stated that it was continuing to suspend revenue guidance as results of the ongoing impact of COVID-19, the impact of generic Vascepa and challenges for drugs seeking market access in Europe.
On this news, Amarin’s stock price fell $1.18 per share, or 43.07%, to close at $1.56 per share on May 4, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
