Amicus Therapeutics, Inc.
Block & Leviton Files Amended Complaint Against Amicus Therapeutics and its Executives
Update: On April 14, 2017, Block & Leviton moved for Preliminary Approval of a settlement. More information is available at the settlement website.
Amicus Therapeutics, Inc. ("Amicus" or the "Company") (NASDAQ: FOLD) and its chief executive officer, John F. Crowley, were named as defendants in a lawsuit alleging that they violated the Federal Securities Laws filed by Block & Leviton LLP.
The lawsuit, filed in Federal Court in the District of New Jersey, Lifestyle Investments, LLC v. Amicus Therapeutics, Inc., alleges that defendants issued a press release on September 15, 2015 in which they misrepresented that Amicus received positive news from a Pre-New Drug Application ("NDA") meeting with the Food and Drug Administration ("FDA") for its NDA for its oral small molecule pharmacological chaperone migalastat for the treatment of Fabry disease. Defendants publicly stated that, based on information provided by the FDA the NDA was on track for filing in the fourth quarter of 2015.
Just two weeks later, however, on October 2, 2015, Amicus reversed course, stating that the FDA news was not positive and that it would no longer be in a position to submit its NDA in the fourth quarter of 2015. Amicus' stock price plunged on this news, falling by 54% to $6.39 per share. Certain Amicus executives sold Amicus shares between September 15, 2015 and October 2, 2015.
If you purchased Amicus stock between September 15, 2015 and October 1, 2015 you may be a member of the alleged class. You may move the Court to be a lead plaintiff or you need not take any action at this time. If you wish to be a lead plaintiff, you must file a motion by December 7, 2015. If you are interested in becoming a lead plaintiff, have questions about your legal rights, or if you have information relevant to this investigation, please contact attorneys Jake Walker or Jeffrey Block of Block & Leviton LLP at (617) 398-5600 or at Jake@blockesq.com or Jeff@blockesq.com. You may also retain counsel of your own choosing. Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured.
Block & Leviton represents investors for violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law throughout the country. The firm's lawyers have collectively been prosecuting securities cases for over 70 years, have recovered billions of dollars for investors and represent some of the nation's largest institutional investors. This notice may constitute attorney advertising.