Alkermes Public Limited Company Securities Fraud Class Action

Case Background:

On December 27, 2018, the initial complaint in this securities class action was filed against Alkermes Public Limited Company (“Alkermes”), and certain of Alkermes’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.  

The complaint alleged that throughout the class period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) the U.S. Food and Drug Administration (“FDA”) had advised Alkermes to follow a certain protocol in connection with its New Drug Application submission for ALKS 5461; (2) Alkermes had failed to follow that protocol; (3) consequently, an FDA advisory committee voted 21 to 2 against the approval of ALKS 5461; and (4) as a result, Alkermes’s public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

This is a federal securities class action on behalf of those who purchased or acquired Alkermes common stock between July 31, 2014 and November 1, 2018, inclusive.

Current Status of Case:

Lead Plaintiff filed an amended consolidated complaint (the “Amended Complaint”) on July 9, 2019.  Defendants filed a Motion to Dismiss the Amended Complaint on January 17, 2020.  The Motion was briefed by the parties.  On February 26, 2021, the Defendant’s Motion was granted and the action was dismissed in its entirety.  Plaintiffs filed a Notice of Appeal on March 26, 2021.  The District Court’s Judgment was affirmed on December 28, 2021. 

This action has concluded.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.