NEW YORK, Jan. 22, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Michigan on behalf of all shareholders who purchased shares of Esperion Therapeutics, Inc. ("Esperion") (NASDAQ: ESPR ) between August 18, 2015 and September 28, 2015, inclusive (the “Class Period”).
Shareholders who incurred losses on shares purchased within the Class Period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of Esperion Therapeutics, Inc. during the period August 18, 2015 and September 28, 2015, inclusive, you may, no later than March 14, 2016 , request that the Court appoint you as lead plaintiff of the proposed class.
The filed complaint alleges that Defendants issued false and misleading statements regarding the Company's business and prospects, including that there was no clear path to approval for ETC-1002, the Company's lead product candidate designed to lower LDL-cholesterol levels, and that the FDA had encouraged the Company to initiate a cardiovascular outcomes trial ("CVOT") and that completion of a CVOT could be necessary prior to approval of ETC-1002.
On August 17, 2015, Esperion reported to investors material events from an August 2015 meeting with the FDA; the Company stated that during the meeting it was informed by the FDA that the Company would not have to complete a CVOT to gain approval of ETC-1002.
Then in a September 28, 2015 news release, the Company noted that the FDA had actually "encouraged the Company to initiate a cardiovascular outcomes trial promptly" and it may be necessary to have a completed CVOT prior to approval. Following this disclosure, shares of Esperion common stock fell $16.76 per share, a decline of 47%, to close on September 29, 2015 at $18.33 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Esperion Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
