According to the Complaint, Alkermes Public Limited Company is a biopharmaceutical company which researches, develops and commercializes pharmaceutical products.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the U.S. Food and Drug Administration (“FDA”) had advised Alkermes to follow a certain protocol in connection with its New Drug Application submission for ALKS 5461; (2) Alkermes had failed to follow that protocol; (3) consequently, an FDA advisory committee voted 21 to 2 against the approval of ALKS 5461; and (4) as a result, Alkermes’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On March 12, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on July 9. Defendants filed a Motion to Dismiss the consolidated Complaint on January 17, 2020. On February 26, 2021, the Court issued an Order granting Defendants' Motion to Dismiss and directing the Clerk of Court to close the case. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on March 26. On December 28, the Court of Appeals affirmed the District Court's judgment.