Aug 15, 2023
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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Avadel Pharmaceuticals plc - AVDL
June 15, 2022 2:17 PM EDT | Source: Pomerantz LLP
New York, New York--(Newsfile Corp. - June 15, 2022) - Pomerantz LLP is investigating claims on behalf of investors of Avadel Pharmaceuticals plc (""or the "Company") (NASDAQ: AVDL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Avadel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 26, 2022, Avadel disclosed in a filing with the U.S. Securities and Exchange Commission that it "received a proposed, final label and medication guide for FT218 from the U.S. Food & Drug Administration ('FDA'). In addition, the Company was notified by FDA that the FT218 New Drug Application ('NDA') patent statement pertaining to US Patent No. 8,731,963 (the 'REMS patent') was deemed inappropriate by FDA. As such, FDA has requested the Company add a certification to the REMS patent to its NDA." Accordingly, Avadel advised that it "anticipates tentative approval of the FT218 NDA with potential full approval on or before the expiration of the REMS patent on June 17, 2023."
On this news, Avadel's stock price fell $2.31 per share, or 68.34%, to close at $1.07 per share on May 26, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127937