NEW YORK, May 13, 2016 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of Aegerion Pharmaceuticals, Inc. ("Aegerion" or the "Company") (NASDAQ: AEGR) breached their fiduciary duties to shareholders by violating the Food, Drug, and Cosmetic Act (the "Act") in connection with the Company's sales activities and disclosures related to its lead drug, JUXTAPID.
Aegerion is a biopharmaceutical company that develops and commercializes therapies for patients with debilitating rare diseases. On May 12, 2016, the Company announced that it had reached preliminary agreements in principle with the Department of Justice ("DOJ") and the staff of the Securities and Exchange Commission ("SEC") regarding a settlement of ongoing investigations by these agencies. Under the terms of the preliminary agreement in principle with the DOJ, the Company would plead guilty to two misdemeanor misbranding violations of the Act. One count would be based on the Company's alleged marketing of JUXTAPID with inadequate directions for use, and the second count would involve an alleged failure to comply with a requirement of the JUXTAPID Risk Evaluation and Mitigation Strategies ("REMS") program. The Company would separately enter into a five-year deferred prosecution agreement with regard to charges that Aegerion violated the Health Insurance Portability and Accountability Act and engaged in obstruction of justice relating to the REMS program.
If you are interested in discussing your rights as an Aegerion shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to the National Law Journal's "Plaintiffs' Hot List" thirteen times.
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SOURCE Bernstein Liebhard LLP