NEW YORK, Jan. 28, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a class action has been filed in the United States District Court, District of Massachusetts, on behalf of all purchasers of Aegerion Pharmaceuticals, Inc. securities ("Aegerion" or "Company") (Nasdaq:AEGR) between March 15, 2012 and January 9, 2014, inclusive ("Class Period"), alleging violations of the Securities Exchange Act of 1934.
If you purchased Aegerion during the Class Period, you may, no later than March 17, 2014, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
On November 8, 2013, news reports revealed that the Company received an FDA Warning Letter concerning statements made by the Company's CEO on CNBC's "Fast Money" regarding JUXTAPID capsules. The letter stated that the CEO made public statements which "provide evidence that JUXTAPID is intended for new uses, for which it lacks approval and for which its labeling does not provide adequate directions for use, which renders JUXTAPID misbranded within the meaning of the Federal Food Drug and Cosmetic Act and makes its distribution violative of the FDCA."
On January 10, 2014, the Company received a subpoena from the U.S. Department of Justice requesting documents regarding its marketing and sale of JUXTAPID. Following this news, Aegerion shares declined $7.98, almost 11%, to close at $65.77 per share on January 10, 2014.
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