SAN DIEGO & ENGLEWOOD, Colo.–(BUSINESS WIRE)–$AMPE–Shareholder rights law firm Robbins
Arroyo LLP announces that purchasers of Ampio Pharmaceuticals, Inc.
(NYSE:AMPE) have filed a shareholder derivative complaint against the
company’s officers and directors for breaches of fiduciary duties
beginning December 14, 2017 and continuing through the present. Ampio
develops compounds that decrease inflammation.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/ampio-pharmaceuticals-sept-2018/
Ampio Accused of Making Misleading Statements about its Drug
One of Ampio’s lead product candidates is Ampion, a biologic
intra-articular injection which is being studied for the treatment of
pain due to osteoarthritis of the knee. According to the complaint,
Ampio made public statements in a press release reporting positive
results of Ampio’s Phase 3 trial of Ampion and stated in filings with
the Securities and Exchange Commission that “Ampion has consistently
demonstrated significant … response across all trials that exceed
minimum clinically meaningful threshold.” However, on August 7, 2018,
Ampio filed a report on Form 8-K with the SEC revealing that the U.S.
Food and Drug Administration (“FDA”) believed that its trial AP-003-A
did not appear to provide sufficient evidence of effectiveness to
support a Biologics License Application and that the FDA did not
consider its AP-003-C trial to be an adequate and well-controlled
clinical trial. On this news, the price of Ampio’s stock dropped $2.25
per share, or over 78% from the previous day’s closing price, closing at
$0.61 per share on August 8, 2018.
Ampio Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
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