Amarin Accused Of Pumping Up Stocks Before FDA Snub

Law360, Los Angeles (November 7, 2013, 4:29 PM EST) -- Amarin Corp. PLC artificially inflated its stock price before a U.S. Food and Drug Administration panel denied expanded use of its fish oil drug Vascepa among adults with high fat levels, according to a putative class action filed in New York federal court Tuesday.

The shareholder suit accuses executives at the biopharmaceutical company of breaking securities laws by misleading investors into believing the FDA would approve the drug when they knew the drug might not have any meaningful cardiovascular benefits.

The putative class consists of an...
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