The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Esperion Therapeutics, Inc. (NASDAQ: ESPR) who purchased shares between February 22, 2017 and May 1, 2018. The action, which was filed in the United States District Court for the Eastern District of Michigan, alleges that the Company violated federal securities laws.
In particular, the ESPR lawsuit alleges that (i) Esperion's cholesterol-lowering medication, bempedoic acid, entailed serious undisclosed safety risks, including death; and (ii) as a result of the foregoing, Esperion's public statements were materially false and misleading at all relevant times. On May 2, 2018, Esperion announced results from its second Phase 3 study for its cholesterol-lowering medication bempedoic acid. Esperion reported that while the trial met the primary endpoint of safety and tolerability and the key efficacy endpoint, there were 13 deaths in the treatment group compared to only two in the control group. On this news, Esperionâ€™s share price fell from a close of $70.50 per share on May 1, 2018, to a close of $45.75 per share the following day.
Shareholders have until July 6, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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