NEW YORK--(BUSINESS WIRE)-- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Alkermes plc (NASDAQ:ALKS) who purchased shares between February 24, 2015 and November 3, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) Alkermes had engaged in deceptive marketing campaigns to influence policymakers to use Vivitrol in addiction treatment programs over more scientifically proven and efficacious alternatives; (ii) the foregoing conduct, when disclosed, would subject Alkermes to heightened regulatory and legislative scrutiny; (iii) accordingly, the Company's revenues derived from Vivitrol during the Class Period were unsustainable; and (iv) as a result of the foregoing, Alkermes shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
Shareholders have until January 22, 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.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/alkermes-plc?wire=2.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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The Klein Law Firm
Joseph Klein, Esq., 212-616-4899
Source: The Klein Law Firm