Lawsuit Overview
April 26, 2016 - The court granted defendants' motion to dismiss without prejudice.
September 8, 2015 - Defendants filed a motion to dismiss.
August 14, 2015 - The lead plaintiff filed a corrected second amended consolidated complaint.
July 29, 2015 - The lead plaintiff filed a second amended consolidated complaint.
June 26, 2015 - The court granted defendants' motion to dismiss without prejudice with leave to amend.
November 19, 2014 - The defendants filed a motion to dismiss.
September 19, 2014 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased AMRN common shares between November 29, 2010 and October 16, 2013. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 29, 2010 and October 16, 2013.
July 29, 2014 - The lead plaintiff and lead counsel were appointed.
January 3, 2014 - Lead plaintiff motions were filed.
November 1, 2013 - An investor in shares of Amarin Corporation PLC (ADS) (NASDAQ: AMRN) filed a lawsuit in the U.S. District Court for the District of New Jersey against Amarin Corporation PLC over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between July 9, 2009 through October 15, 2013.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Amarin Corporation PLC (ADS) (NASDAQ: AMRN) between July 9, 2009 through October 15, 2013, that Amarin Corporation PLC and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that the defendants misrepresented the prospects for the U.S. Food and Drug Administration ( FDA ) approval of Amarin Corporation PLC's Vascepa drug for the ANCHOR indication and failed to disclose that the FDA had informed Amarin Corporation PLC that there was a lack of prospective, controlled clinical trial data demonstrating that pharmaceutical reduction of triglycerides significantly reduces residual cardiovascular risk.
On October 11, 2013 the U.S. Food and Drug Administration (“FDA”) released its briefing documents for the October 16, 2013 advisory committee review of Amarin Corporation PLC's application seeking expanded approval for the use of its fish oil-based drug, Vascepa, in the treatment of adult patients with high triglycerides with mixed dyslipidemia.
On October 16, 2013, Amarin Corporation PLC announced that the FDA Endocrinologic and Metabolic Drugs Advisory Committee has voted 9 to 2 against approval of Vascepa® (icosapent ethyl) capsules for use as an adjunct to diet and exercise and in combination with a statin in the treatment of adult patients with high triglycerides (TG 200-499 mg/dL) with mixed dyslipidemia and coronary heart disease (CHD) or a CHD risk equivalent (the ANCHOR indication) based on the information presented at the committee meeting on October 16, 2013.
Shares of Amarin Corporation PLC (ADS) (NASDAQ: AMRN) declined from $7.35 per share on October 7, 2013, to as low as $1.855 per share on October 17, 2013.