Cases
Egalet Corporation (NASDAQ: EGLT)
Securities Class Action
Overview
Overview
- Date:
- 2/2/2017
- Company Name:
- Egalet Corporation
- Stock Symbol:
- EGLT
- Class Period:
- FROM 12/15/2015 TO 1/9/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern District of Pennsylvania
NEW YORK, February 2, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who acquired Egalet Corporation (NASDAQ: EGLT) securities between December 15, 2015 and January 9, 2017 (the “Class Period”).
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Egalet misrepresented the oral abuse-deterrent profile of its lead product, ARYMO ER, an abuse-deterrent oral morphine formulation; (ii) the Company falsely and/or misleadingly overstated ARYMO ER’s chances to receive the oral abuse-deterrent labeling; (iii) the New Drug Application for ARYMO ER lacked adequate data to support the oral-labeling claims; (iv) the label was likely not to include the oral abuse-deterrent claims; and (v) as a result, Egalet’s statements regarding its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Specifically, after market close on January 9, 2017, Egalet announced that the Food and Drug Administration (“FDA”) approved ARYMO ER. However, the FDA only granted an intravenous abuse-deterrent label claim and did not approve the oral abuse-deterrent labeling as requested by the Company.
If you purchased or otherwise acquired Egalet Corporation securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Egalet misrepresented the oral abuse-deterrent profile of its lead product, ARYMO ER, an abuse-deterrent oral morphine formulation; (ii) the Company falsely and/or misleadingly overstated ARYMO ER’s chances to receive the oral abuse-deterrent labeling; (iii) the New Drug Application for ARYMO ER lacked adequate data to support the oral-labeling claims; (iv) the label was likely not to include the oral abuse-deterrent claims; and (v) as a result, Egalet’s statements regarding its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Specifically, after market close on January 9, 2017, Egalet announced that the Food and Drug Administration (“FDA”) approved ARYMO ER. However, the FDA only granted an intravenous abuse-deterrent label claim and did not approve the oral abuse-deterrent labeling as requested by the Company.
If you purchased or otherwise acquired Egalet Corporation securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.