Case Page

 

Case Status:    DISMISSED    
On or around 12/27/2016 (Date of order of final judgment)

Filing Date: January 12, 2016

According to the law firm press release, Esperion is a pharmaceutical company that focuses on developing and commercializing oral low-density lipoprotein cholesterol (“LDL-cholesterol”) lowering therapies for patients with hypercholesterolemia. Esperion’s lead product candidate is ETC-1002, a once-daily small molecule designed to lower LDL-cholesterol levels. According to Esperion, ETC-1002 is designed to lower LDL-cholesterol while avoiding the side effects associated with other LDL-cholesterol lowering therapies on the market.

The complaint alleges that during the Class Period, 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 April 5, 2016, the Court issued an Order appointing Lead Plaintiffs and Lead Counsel. Lead Plaintiffs filed an amended complaint on May 20.

On December 27, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. Judgment in favor of Defendants was entered.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ESPR
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Michigan
DOCKET #: 16-CV-10089
JUDGE: Hon. Arthur J. Tarnow
DATE FILED: 01/12/2016
CLASS PERIOD START: 08/18/2015
CLASS PERIOD END: 09/28/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. The Miller Law Firm PC
    950 West University Drive, Suite 300, The Miller Law Firm PC, MI 48307
    248.841.2200 248.652.2852 ·
No Document Title Filing Date
COURT: E.D. Michigan
DOCKET #: 16-CV-10089
JUDGE: Hon. Arthur J. Tarnow
DATE FILED: 05/20/2016
CLASS PERIOD START: 08/18/2015
CLASS PERIOD END: 09/28/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kahn Swick & Foti, LLC (Madisonville)
    206 Covington Street, Kahn Swick & Foti, LLC (Madisonville), LA 70447
    (504) 455-1400 (504) 455-1498 ·
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. The Miller Law Firm, P.C.
    950 West University Drive, Suite 300, The Miller Law Firm, P.C., MI 48307
    (248) 841-2200 ·
No Document Title Filing Date