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Oklahoma City, OK (May 10, 2018) – On May 7, 2018, a securities class action lawsuit was filed in the United States District Court for the District of Michigan against Esperion Therapeutics, Inc. (NASDAQ: ESPR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 22, 2017 through May 1, 2018. More specifically, the Complaint alleges that defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Esperion’s cholesterol-lowering medication, bempedoic acid, entailed serious undisclosed safety risks, including death; and (2) as a result, Esperion’s public statements were materially false and misleading at all relevant times.
On May 2, 2018, Esperion announced results from its second Phase 3 study for its cholesterol-lowering medication bempedoic acid. Esperion reported that while the trial met the primary endpoint of safety and tolerability and the key efficacy endpoint, there were 13 deaths in the treatment group compared to only two in the control group. On this news, Esperion’s share price fell from a close of $70.50 per share on May 1, 2018, to a close of $45.75 per share the following day.
Plaintiff seeks to recover damages on behalf of all Esperion Therapeutics, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Friday, July 6, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.