Amarin Corporation plc
| Company Name | Amarin Corporation plc |
| Stock Symbol | AMRN |
| Class Period | September 24, 2018 to November 08, 2018 |
| Lead Plaintiff Motion Deadline | April 23, 2019 |
On November 12, 2018, an article was published on Seeking Alpha regarding Amarin’s “recent revelations of positive topline results” from its REDUCE-IT trial for Vascepa, its sole product. The article raised the possibility that “the placebo group received an active agent that in effect was an anti-statin,” and that the REDUCE-IT trial results may have consequently exaggerated the efficacy of Vascepa. On this news, Amarin’s American depositary receipt price fell $4.44, or 22%, to close at $15.38 on November 13, 2018, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the top-line results Amarin touted about its REDUCE-IT trial for Vascepa were not as positive as the company represented; (2) the placebo given to patients in the control arm of REDUCE-IT may have increased the incidence of cardiovascular events in those patients; (3) as a result, Amarin's public statements were materially false and misleading at all relevant times.
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