NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that a class action lawsuit has been filed in the United States District Court for the Eastern District of Michigan, against Esperion Therapeutics, Inc. (“Esperion” or the “Company”) (NASDAQ: ESPR) on behalf of investors that acquired Esperion securities during the period from February 22, 2017 through May 1, 2018 (the “Class Period”), seeking recovery of damages for alleged violations of the federal securities laws. Pursuant to applicable law, investors have until July 6, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Esperion’s cholesterol-lowering medication, bempedoic acid, entailed serious undisclosed safety risks, including death; and (2) as a result, Esperion’s public statements were materially false and misleading at all relevant times.
On May 2, 2018, Esperion announced results from its second pivotal Phase 3 study for its cholesterol-lowering medication, reporting that while the trial met the primary endpoint of safety and tolerability and the key efficacy endpoint, there were 13 deaths in the treatment group compared to only two deaths in the control group. On this news, Esperion’s share price fell from $70.50 to close at $45.75 on May 2, 2018 (a decline of $24.75 or 35.10%).
If you purchased or otherwise acquired Esperion securities, have information or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at telrod@kmllp.com, or by filling out this contact form to discuss your rights or interests in this litigation.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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