ALKERMES INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Alkermes plc
To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Alkermes plc (“Alkermes” or the
“Company”) (NASDAQ:ALKS) of the January 22, 2018 deadline to seek the role of lead plaintiff in a federal securities class action
that has been filed against the Company.
If you invested in Alkermes stock or options between February 24, 2015 and November 3, 2017 and would like to discuss
your legal rights, click here : www.faruqilaw.com/ALKS. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com .
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased
Alkermes securities between February 24, 2015 and November 3, 2017 (the “Class Period”). The case, Gagnon v. Alkermes plc et
al, No. 1:17-cv-09178 was filed on November 22, 2017.
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) the Company engaged in deceptive marketing campaigns to influence policymakers to
use Vivitrol, a treatment for alcohol and opioid dependence, in addiction treatment programs over more scientifically proven and
efficacious alternatives; (ii) the aforementioned conduct, when disclosed, would subject the Company to heightened regulatory and
legislative scrutiny; (iii) consequently, the Company’s revenues derived from Vivitrol during the Class Period were unsustainable;
and (iv) as a result, Alkermes shares traded at artificially inflated prices during the Class Period.
Specifically, on June 11, 2017, The New York Times published an article describing the Company’s aggressive efforts
to market Vivitrol while denigrating the efficacy of other addiction treatments. On this news, Alkermes’ share price fell from
$61.66 per share on June 9, 2017 to a closing price of $59.47 on June 12, 2017—a $2.19 or a 3.55% drop.
Then, on November 6, 2017, U.S. Senator Kamala Harris (“Senator Harris”) announced the opening of an investigation into
Alkermes’ sales practices for Vivitrol. Senator Harris stated that the Company “aggressively marketed” its medication, convincing
judges and prison officials to use it rather than more proven addiction-treatment products, and spent hundreds of thousands of
dollars lobbying policymakers. Furthermore, according to Senator Harris, Alkermes promoted Vivitrol by using a “speaker’s bureau
composed of doctors paid to promote the drug.” On this news, Alkermes’ share price fell from $50.99 per share on November 3, 2017
to a closing price of $48.76 on November 6, 2017—a $2.23 or a 4.37% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Alkermes’s conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future
matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
View source version on businesswire.com: http://www.businesswire.com/news/home/20180117006530/en/