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BOSTON, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, informs investors that there has been a class action lawsuit filed against Amarin Corporation (“Amarin” or the “Company”) (NYSE: AMRN) and certain of its officers alleging violations of the federal securities laws. Shareholders are encouraged to contact Block & Leviton LLP to learn more.
The complaint alleges that on September 24, 2018, Amarin issued a press release stating that the company's REDUCE-IT cardiovascular outcomes study had shown a 25% relative risk reduction for patients taking Vascepa as compared to those taking a placebo. As a result, Amarin's stock price increased more than 414% that day. Less than two months later, Amarin disclosed more detailed results, which suggest that the placebo given to the patients in the study may have caused cardiovascular problems in the patients taking it, which, in turn, suggests that Vascepa may not be as efficacious as Amarin’s original press release would have suggested. As a result, Amarin's stock price dropped nearly 27% to close at $15.38 per share on November 13, 2018.
If you purchased or otherwise acquired Amarin securities between September 24, 2018 and November 9, 2018, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Block & Leviton LLP at (617) 398-5660, by email at email@example.com, or by visiting http://shareholder.law/cases/?case=amarin.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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