Amarin Corporation plc (AMRN) Accused of Misleading Investors About Its Drug Trial

According to the complaint, on September 24, 2018, Amarin Corporation plc issued a press release stating that the company's REDUCE-IT cardiovascular outcomes study had shown a 25% relative risk reduction for patients taking Vascepa. As a result, Amarin's securities increased more than 414% that day. Less than two months later, at the Scientific Sessions of the American Heart Association on November 10, 2018, scientists presented the results of the REDUCE-IT trials. The scientists disclosed that that the placebo given to the patients may have caused cardiovascular problems in the patients taking it, citing an increase in "bad" LDL cholesterol. As a result, Amarin's stock price dropped nearly 27% to close at $15.38 per share on November 13, 2018.

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