NEW YORK, Nov. 11, 2015 /PRNewswire/ -- Wolf Popper LLP, on October 8, 2015, filed a class action lawsuit against Amicus Therapeutics, Inc. (NASDAQ: FOLD) and certain of its officers, in the United States District Court for the District of New Jersey, on behalf of all persons who purchased Amicus common stock on the open market or pursuant to a Registration Statement, during the period March 19, 2015 through October 1, 2015, and were damaged thereby. This action alleges claims for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
If you are a member of the Class, please be reminded that you may file a motion no later than December 7, 2015 to be appointed a lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors who purchased Amicus common stock during the Class Period and suffered losses are urged to contact Wolf Popper to discuss their rights.
The Complaint charges that defendants misrepresented that Amicus had an "approval pathway" for its lead product candidate Galafold, by which it would submit a new drug application ("NDA") to the U.S. Food and Drug Administration for "accelerated approval" of the drug "in the second half of 2015."
On October 2, 2015, Amicus revealed that it would not "submit the NDA for migalastat in the United States by the end of this year" as the FDA has requested "additional data on migalastat's effect on gastrointestinal symptoms in Fabry disease" and "further integration of existing clinical data across studies." On this news, Amicus shares declined $7.36 or 53.5% on October 2, 2015.
Based on our ongoing investigation, Amicus disclosed on November 3, 2015 that there is no particular timeframe for the NDA as it "will be based on the completion of the required data integration as well as the determination of the optimal regulatory pathway."
Wolf Popper has successfully recovered billions of dollars for defrauded investors. The firm's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com
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SOURCE Wolf Popper LLP