Amarin Corporation plc (NASDAQ: AMRN) Investor Securities Class Action Lawsuit 02/22/2019

If you purchased shares of Amarin Corporation plc (NASDAQ: AMRN), you have certain options and for certain investors are short and strict deadlines running. Deadline: April 23, 2019. NASDAQ: AMRN investors should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Amarin
Case Name: 
Amarin Shareholder Class Action Lawsuit 02/22/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: AMRN
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/22/2019
Class Period Begin: 
09/24/2018
Class Period End: 
11/08/2019
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
04/23/2019
Summary: 

An investor in shares of Amarin Corporation plc (NASDAQ: AMRN) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Amarin Corporation plc in connection with certain allegedly false and misleading statements made between September 24, 2018 and November 8, 2018.

Ireland based Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. Amarin Corporation plc reported that its annual Total Revenue rose from $130.08 million in 2016 to $181.1 million in 2017 and that its Net Loss declined from $86.35 million in 2016 to $67.86 million in 2017.

Shares of Amarin Corporation plc (NASDAQ: AMRN) reached as high as $23.14 per share on November 5, 2018.

On November 12, 2018, an article was published, entitled "Amarin's REDUCE-IT Trial: Something Fishy?" The article addressed Amarin's "recent revelations of positive topline results" from its REDUCE-IT trial for Vascepa, its sole product. Specifically, the article raised the possibility that "the placebo group received an active agent that in effect was an anti-statin", and that the REDUCE-IT trial results may have consequently exaggerated the efficacy of Vascepa.

According to the complaint the plaintiff alleges on behalf of purchasers of Amarin Corporation plc (NASDAQ: AMRN) common shares between September 24, 2018 and November 8, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 24, 2018 and November 8, 2018, the defendants made false and misleading statements or failed to disclose that the top-line results Amarin touted about its REDUCE-IT trial for Vascepa were not as positive as the company represented, thatthe placebo given to patients in the control arm of REDUCE-IT may have increased the incidence of cardiovascular events in those patients, and that as a result, Amarin’s public statements were materially false and misleading at all relevant times.