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STEVENSON, Md., Jan. 16, 2016 (GLOBE NEWSWIRE) -- 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 [email protected] 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 Piven also 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.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 [email protected]
