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Ampio Pharmaceuticals, Inc. (NYSE: AMPE) Investor Securities Class Action Lawsuit 08/26/2018

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Lawsuit Overview

Case Dismissed
Company
Security
NYSEMKT: AMPE

Case Name
Ampio Pharmaceuticals Shareholder Class Action Lawsuit 08/26/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 19, 2020 - The case was dismissed with prejudice.

February 10, 2020 - A motion to dismiss the amended complaint was filed.

December 10, 2019 - An amended complaint was filed.

August 25, 2018 - An investor in shares of Ampio Pharmaceuticals, Inc. (NYSE: AMPE) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Ampio Pharmaceuticals in connection with certain allegedly false and misleading statements made between December 14, 2017 and August 7, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Ampio Pharmaceuticals, Inc. (NYSE: AMPE) common shares between December 14, 2017 and August 7, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 14, 2017 and August 7, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that the FDA would find Ampio's AP-003-C Phase 3 clinical trial inadequate and not well-controlled, that as a result, Ampio had not successfully completed two pivotal clinical trials for Ampion, and that consequently, Defendants' public statements were materially false and misleading at all relevant times.

Englewood, CO based Ampio Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development of therapies for the treatment of prevalent inflammatory conditions in the United States.
On August 7, 2018, during aftermarket hours, Ampio Pharmaceuticals, Inc. (NYSE; AMPE) filed a form with the Securities and Exchange Commission (“SEC”) providing a regulatory update on the FDA’s review of Ampio Pharmaceuticals, Inc. (NYSE; AMPE), including the AP-003-A and AP-003-C trials. Ampio Pharmaceuticals, Inc. (NYSE; AMPE) disclosed that it met with the FDA in July 2018 and received a response letter thereto, which stated that “as a single trial[,] the AP-003-A study alone does not appear to provide sufficient evidence of effectiveness to support [the Biologics License Application].” The FDA further provided that “the FDA does not consider the AP-003-C trial to be an adequate and well-controlled clinical trial.”

Shares of Ampio Pharmaceuticals, Inc. (NYSE; AMPE) declined on August 9, 2018 to as low as $0.35 per share.