BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Eagle Pharmaceuticals Inc. (“Eagle” or the “Company”) (NASDAQ: EGRX) securities between February 23, 2016 and March 18, 2016, inclusive (the “Class Period”). Eagle investors have until August 1, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Eagle investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies, including misrepresentations about the FDA approval process for its new anticoagulant drug, KANGIO™.
On February 25, 2016, responding to inquiries about the pending New Drug Application (“NDA”) for the Company's anticoagulant drug KANGIO, Eagle’s CEO stated “we have been interacting with FDA and we are preparing for launch, everything seems to be on track for a March 19 approval, and we anticipate shipping in late Q1 or early Q2.”
However, on March 18, 2016, Eagle disclosed that the FDA did not approve the NDA because it needed “additional information” regarding the substances used in KANGIO.
On this news, Eagle stock fell nearly 19% to close at just $43.50 per share on March 18, 2016.
If you purchased shares of Eagle during the Class Period you may move the Court no later than August 1, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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