On or around 12/29/2020 (Date of last review)
Filing Date: October 16, 2020
According to the Complaint, Evolus, Inc. is a medical aesthetic company formed with the sole aim to develop and introduce a cheaper alternative to Botox® to the U.S. market.
The Complaint alleges that Evolus made false and misleading statements to the public throughout the Class Period and failed to disclose that: (1) the real source of botulinum toxin bacterial strain as well as the manufacturing processes used to develop Jeuveau™ originated with and were misappropriated from Medytox; (2) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau™; (3) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; (4) which in turn seriously threatened Evolus’ ability to commercialize Jeuveau™ in the United States and generate revenue; and (5) any revenues generated from the sale of Jeuveau™ were based on Evolus’ unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox.
On November 13, 2020, the Court issued an Order consolidating cases.
Company & Securities Information
Defendant: Evolus, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: EOLS
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.
First Identified Complaint
Armin Malakouti, et al. v. Evolus, Inc., et al.
COURT: S.D. New York
DOCKET #: 20-CV-08647
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 10/16/2020
CLASS PERIOD START: 02/01/2019
CLASS PERIOD END: 07/06/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lowey Dannenberg, P.C.
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violation of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available