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Egalet Corporation (EGLT)

NASDAQ:EGLT

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Egalet Corporation To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Egalet Corporation (“Egalet” or the “Company”) (NASDAQ:EGLT) of the March 28, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of all those who purchased Egalet common stock between December 15, 2015 and January 9, 2017 (the “Class Period”).  The case, MINEFF v. EGALET CORPORATION et al, No. 2:17-cv-00390 was filed on January 27, 2017, and has been assigned to Judge Michael M. Baylson.

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) Egalet misrepresented the oral abuse-deterrent profile of its lead product, ARYMO ER, an abuse-deterrent oral morphine formulation; (ii) the Company falsely and/or misleadingly overstated ARYMO ER’s chances to receive the oral abuse-deterrent labeling; (iii) the New Drug Application for ARYMO ER lacked adequate data to support the oral-labeling claims; (iv) the label was likely not to include the oral abuse-deterrent claims; and (v) as a result, Egalet’s statements regarding its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

Specifically, after market close on January 9, 2017, Egalet announced that the Food and Drug Administration (“FDA”) approved ARYMO ER. However, the FDA only granted an intravenous abuse-deterrent label claim and did not approve the oral abuse-deterrent labeling as requested by the Company.

On this news, Egalet’s share price fell from $8.38 on January 9, 2017 to a closing price of $6.52 on January 10, 2017 —a $1.86 or a 22.2% drop.

Take Action

If you invested in Egalet common stock, options or bonds between December 15, 2015 and January 9, 2017 and would like to discuss your legal rights, please fill out the form below. 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.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Egalet’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Egalet Corporation (EGLT)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/30/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.