SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in securities class litigation brought on behalf of investors who purchased the common stock of Esperion Therapeutics, Inc. (“Esperion” or the “Company”) (NASDAQ:ESPR) between August 18, 2015 and September 28, 2015, inclusive (the “Class Period”).
If you purchased Esperion common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than March 14, 2016. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Esperion investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Esperion’s lead product candidate is ETC-1002. The action alleges that during the Class Period, defendants issued false and misleading statements and failed to disclose 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”) and that completion of a CVOT could be necessary prior to approval of ETC-1002.
On August 17, 2015 Esperion disclosed material events from a meeting with the FDA. The Company claimed that they were told that no CVOT would be necessary for the approval of ETC-1002 and that there was a “clear regulatory path forward for development and approval of ETC-1002.”
On September 28, 2015, Esperion disclosed the truth about the August 2015 meeting with the FDA, admitting that the FDA encouraged Esperion to complete a CVOT and that it may be necessary to have a completed CVOT for the drug’s approval. Following this news, the price of Esperion common stock fell $16.76 per share, or 47.7%, to close at $18.33 on September 29, 2015.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP is a nationally recognized law firm committed to advancing investor rights and promoting corporate responsibility.
For thirteen years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.
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