Berger Montague announced today that Alkermes (NASDAQ: ALKS) and its CEO and CFO have been accused of federal securities law violations in a class action filed in the U.S. District Court for the Eastern District of New York. The lawsuit was filed on behalf of a class of individuals or entities who purchased or otherwise acquired Alkermes’ publicly traded securities from February 17, 2017 through November 1, 2018.
The deadline for Alkermes class members to file a lead plaintiff motion with the Court is February 25, 2019. Any member of the proposed class may move the Court on or before February 25, 2019 to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
If you wish to discuss this action, learn more about serving as a lead plaintiff or have any questions concerning this notice or your rights, please contact Berger Montague attorneys Barbara A. Podell at 215-875-4690, Michael C. Dell‘Angelo at 215-875-3080 or Phyllis M. Parker at 215-875-4647.
Alkermes is a global biopharmaceutical company developing medicines for the treatment of central nervous system diseases. The company has a commercial product portfolio and a clinical pipeline of product candidates for chronic diseases that include schizophrenia, depression, addiction and multiple sclerosis.
The complaint alleges that 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 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. The complaint alleges that when the truth entered the market, investors suffered damages.
Berger Montague is a national law firm headquartered in Philadelphia, PA with additional offices in Minneapolis, MNand Washington, DC. The firm litigates complex civil cases and class actions in federal and state courts throughout the United States. Berger Montague has played lead roles in major cases for over 49 years, resulting in recoveries of more than $30 billion for its clients.
Barbara A. Podell
SOURCE Berger Montague