An investigation for investors in NASDAQ:EGLT shares over potential securities laws violations by Egalet Corp was announced and NASDAQ:EGLT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/18/2017 -- An investigation on behalf of investors in NASDAQ:EGLT shares over potential securities laws violations by Egalet Corp and certain of its directors and officers was announced.
Investors who purchased shares of Egalet Corp (NASDAQ:EGLT), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by Egalet Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 9, 2017, Egalet Corp announced the approval of its product Arymo ER. Later that day the U.S. Federal Drug Administration ("FDA") issued a statement announcing that another product called MorphaBond "has marketing exclusivity for labeling describing the expected reduction of abuse of single-entity extended-release morphine by the intranasal route due to physicochemical properties." Because of MorphaBond's marketing exclusivity, "no other single-entity extended-release morphine product submitted in an abbreviated new drug application or 505(b)(2) application can be approved for that use at this time." Shares of Egalet Corp (NASDAQ:EGLT) declined to as low as $5.29 per share on January 17, 2017.
Those who purchased shares of Egalet Corp have certain options and should contact the Shareholders Foundation.
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