Aegerion Hit With Shareholder Suit Over Juxtapid Labeling

Law360, Washington (January 16, 2014, 6:17 PM EST) -- Aegerion Pharmaceuticals Inc. was hit with a proposed class action in Massachusetts federal court Wednesday accusing the biopharmaceutical company of misleading shareholders about off-label marketing of its flagship cholesterol drug Juxtapid.

The Cambridge, Mass.-based company and several of its top brass had failed to inform investors that it had misbranded Juxtapid — used as a treatment for the genetic disease homozygous familial hypercholesterolemia, or HFH — resulting in a stock price drop when the U.S. Food and Drug Administration took notice, according to plaintiff Lawrence Bodner....
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