NEW YORK, Feb. 25, 2019 /CNW/ -- 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 [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Amarin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 10, 2018, scientists that conducted the REDUCE-IT trial for Vascepa, Amarin's potential cardiovascular disease treatment, presented the full results of that study at the Scientific Sessions of the American Heart Association in Chicago, Illinois. In that presentation, the scientists disclosed for the first time that "bad" LDL cholesterol levels rose three percent in the Vascepa patients and ten percent in the placebo patients. Other markers of blood fat were also higher in the placebo patients. These data raised concerns that mineral oil placebos might be interfering with the background regimen of cholesterol-lowering statins taken by all patients in the study, and that the 10 percent increase in LDL cholesterol might have led to more adverse cardiovascular events among placebo patients.
Following these disclosures, Amarin's American depositary receipt price fell $5.67 per share, or roughly 27%, over the following two trading days, closing at $15.38 per share on November 13, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP