Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the USDC for the Eastern District of Michigan on behalf of shareholders of Esperion Therapeutics, Inc. (NASDAQ: ESPR) who purchased shares between August 18, 2015 and September 28, 2015.
The complaint alleges that Defendants issued false and misleading statements regarding the Company’s business and prospects, including that there was no clear path to approval for ETC-1002, the Company’s lead product candidate designed to lower LDL-cholesterol levels, and that the FDA had encouraged the Company to initiate a cardiovascular outcomes trial (“CVOT”) and that completion of a CVOT could be necessary prior to approval of ETC-1002.
On August 17, 2015, Esperion reported to investors material events from an August 2015 meeting with the FDA; the Company stated that during the meeting it was informed by the FDA that the Company would not have to complete a CVOT to gain approval of ETC-1002. Then in a September 28, 2015 news release the Company noted that the FDA had actually “encouraged the Company to initiate a cardiovascular outcomes trial promptly” and it may be necessary to have a completed CVOT prior to approval.
If you suffered a loss in Esperion you have until March 14, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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