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NEW YORK, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Amarin Corporation plc (“Amarin” or the “Company”) (NASDAQ: AMRN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Amarin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 3, 2020, Amarin announced that “the United States District Court for the District of Nevada’s rul[ed] in favor of the generic companies in the company’s patent litigation against two filers of abbreviated new drug applications, or ANDAs, for Amarin’s VASCEPA® (icosapent ethyl) capsule franchise.”
On this news, Amarin’s stock price fell over 70.5% to close at $4.00 per share on March 31, 2020.
Then, on September 3, 2020, following oral argument in the Company’s patent litigation, the U.S. Court of Appeals for the Federal Circuit entered an order affirming the District Court’s ruling. On this news, Amarin’s stock price fell over 34.5% to close at $4.30 per share on September 4, 2020. On April 12, 2021, Amarin announced the retirement of John F. Thero as the Company’s President and Chief Executive Officer.
On this news, Amarin’s stock price fell over 14.3% to close at $5.08 per share on April 13, 2021.
Finally, on June 21, 2021, the market learned that the U.S. Supreme Court had rejected Amarin’s bid to revive its Vascepa patents.
On this news, Amarin’s stock price fell 8.3% to close at $4.54 per share on June 23, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980