Investigation for Investors of Esperion Therapeutics Inc (NASDAQ:ESPR) Announced
An investigation on behalf of current long term investors in Esperion Therapeutics Inc (NASDAQ:ESPR) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:ESPR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 07/07/2016 --Certain directors of Esperion Therapeutics Inc are under investigation over possible misconduct. The investigation was announced for investors in NASDAQ:ESPR shares concerning potential breaches of fiduciary duties by certain Esperion Therapeutics directors.
Investors who are current long term investors in Esperion Therapeutics Inc (NASDAQ:ESPR) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Esperion Therapeutics directors breached their fiduciary duties and caused damage to the company and its shareholders.
On August 17, 2015, Esperion Therapeutics Inc reported material events from an early August 2015 meeting with the U.S. Food and Drug Administration ("FDA") regarding the next phase of the approval process for ETC-1002. Esperion Therapeutics Inc stated that during the meeting it was informed by the FDA that Esperion Therapeutics Inc would not have to complete a CVOT to gain approval of ETC-1002. Esperion Therapeutics Inc also informed investors that it had a "'clear regulatory path forward for development and approval of ETC-1002.'"
On September 28, 2015, Esperion Therapeutics Inc provided an update on the design and timing of its planned pivotal Phase 3 clinical development program following receipt of the official End-of-Phase 2 Meeting Minutes from the FDA. Shares of Esperion Therapeutics Inc (NASDAQ:ESPR) declined to as low as $18.07 per share on September 29, 2015, respectively $15.50 per share on January 12, 2016.
On January 12, 2016, a lawsuit was filed against Esperion Therapeutics Inc over alleged securities laws violations. The plaintiff alleged that the defendants issued false and misleading statements and/or failed to disclose adverse information regarding Esperion's business and prospects, including that there was no clear path to approval for ETC-1002, and that the 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. As a result of these false statements and/or omissions, Esperion common stock traded at artificially inflated prices during the Class Period, reaching as high as $82 per share in intra-day trading.
On June 28, 2016, Esperion Therapeutics provided a clinical development and regulatory update for Bempedoic acid. Shares of Esperion Therapeutics Inc (NASDAQ:ESPR) declined on June 29, 2016 to as low as $9.58 per share.
On July 5, 2016, NASDAQLESPR shares closed at $10.10 per share.
Those who purchased shares of Esperion Therapeutics Inc have certain options and should contact the Shareholders Foundation.
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View this press release online at: http://rwire.com/704310