STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Eastern District of Michigan on
behalf of purchasers of Esperion Therapeutics, Inc. (Nasdaq: ESPR)
(“Esperion” or the “Company”) common stock during the period between
August 18, 2015 and September 28, 2015, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until March 14, 2016 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in common stock purchased on
or after August 18, 2015 and held through the revelation of negative
information during and/or at the end of the Class Period, as described
below, and would like to learn more about this lawsuit and your ability
to participate as a lead plaintiff, without cost or obligation to you,
please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. No class has yet been certified in
the above action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Company common stock during
the Class Period. Brower Pivenalso encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that there was no clear path to approval for
ETC-1002, and that the U.S. Food and Drug Administration (“FDA”) had
encouraged the Company to initiate a cardiovascular outcomes trial
(“CVOT”), the completion of which could be necessary prior to approval
of ETC–1002.
According to the complaint, following the September 28, 2015 disclosure
that Esperion reversed course about having a clear regulatory path for
the development and approval of ETC-1002, and by revealing that the FDA
had actually encouraged the Company to initiate promptly a
cardiovascular outcomes trial that may be necessary prior to approval,
the value of Esperion shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160214005024/en/
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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