Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Alkermes Public Limited Company (“Alkermes”) (NASDAQ: ALKS) common stock between July 31, 2014 and November 1, 2018, inclusive (the “Class Period”).
Alkermes is a global biopharmaceutical company with a focus on the development of treatments in the neuroscience field. Among its products was ALKS 5461, an investigational medicine for the treatment of major depressive disorder.
The complaint alleges that, throughout the Class Period, 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 had 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 about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On February 26, 2021, the Court granted Defendants’ Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.