Robbins Arroyo LLP Is Investigating the Officers and Directors of Aegerion Pharmaceuticals, Inc. (AEGR) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of Aegerion Pharmaceuticals, Inc. (NASDAQGS: AEGR) violated their legal obligations to the company and its shareholders in connection with alleged violations of drug marketing requirements, securities laws, and the Health Insurance Portability and Accountability Act (“HIPAA”). Aegerion, a biopharmaceutical company, develops and commercializes therapies for patients with debilitating rare diseases in the United States.
Aegerion Pays $40 Million For Violating Drug Marketing Requirements
On May 12, 2016, Aegerion announced that it entered into preliminary agreements with the U.S. Department of Justice and the U.S. Securities and Exchange Commission (“SEC”), which call for the Company to plead guilty and pay $40 million for various alleged misdeeds. The criminal pleas involve misbranding violations under the Federal Food, Drug, and Cosmetic Act. One count involves marketing of Juxtapid, Aegerion’s treatment for a genetic cholesterol disorder, which carries a black box warning regarding liver toxicity, without full directions for use. A second count involves failure to comply with risk evaluation and mitigation strategies (“REMS”) that are used to restrict the distribution of potentially dangerous drugs.
Aegerion further stated it will enter a settlement under the False Claims Act as well as a five-year deferred prosecution agreement related to alleged violations of HIPAA and alleged obstruction of justice involving the REMS. Aegerion and the SEC have agreed to recommend a settlement regarding “certain statements made by the company in 2013 regarding the conversion rate of patients receiving Juxtapid prescriptions.” Finally, Aegerion stated it will enter a consent decree with the U.S. Food and Drug administration “prohibiting future violations of the law” and may sign a corporate integrity agreement with the Office of Inspector General at the U.S. Department of Health and Human Services.
Aegerion Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.
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