Ampio Pharmaceuticals, Inc. Class Action Lawsuit - AMPE
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The Ampio class action lawsuit seeks to represent purchasers or acquirers of Ampio Pharmaceuticals, Inc. (NYSEAMERICAN: AMPE) common stock between December 29, 2020 and August 3, 2022, inclusive (the “Class Period”). The Ampio class action lawsuit – captioned Kain v. Ampio Pharmaceuticals, Inc., No. 22-cv-02105 (D. Colo.) – charges Ampio and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Ampio class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Ampio class action lawsuit must be filed with the court no later than October 17, 2022.
CASE ALLEGATIONS: Ampio claims to have developed Ampion®, its lead product purportedly used to treat individuals with inflammatory conditions including, but not limited to, severe osteoarthritis of the knee (“OAK”). In June 2019, Ampio received a Special Protocol Assessment from the U.S. Food and Drug Administration (“FDA”) for an additional Phase III clinical trial titled “A Randomized, Controlled, Double-Blind Study to Evaluate the Efficacy and Safety of an Intra-Articular Injection of Ampion in Adults with Pain Due to Severe Osteoarthritis of the Knee” (“AP-013”).
The Ampio class action lawsuit alleges that defendants inflated Ampio’s true ability to successfully file a Biologics License Application for Ampion and inflated the results of the AP-013 study and the timing of unblinding the data from the AP-013 study.
On April 20, 2022, Ampio issued a press release providing a regulatory update that the FDA had responded negatively to its Type C meeting request, disclosing the FDA’s conclusion that Ampio “should have sought FDA’s agreement on [certain] changes prior to analyzing and unblinding the data” and “FDA further stated that it did not agree that AP-013 could serve as a second pivotal trial for Ampion based on both the change in the analysis population and the analysis of pain only instead of the original prespecified co-primary endpoints.” On this news, Ampio’s stock price fell by more than 26%.
Then, on May 16, 2022, Ampio announced that an independent special committee of the Board of Directors, with the assistance of independent legal counsel, was in the process of conducting an internal investigation relating to the AP-013 study. On this news, Ampio’s stock price fell an additional 10%.
Finally, on August 3, 2022, Ampio revealed that certain defendants “and senior staff were aware, at the time of the per-protocol interim analysis in March 2020, that the AP-013 trial did not demonstrate efficacy for Ampion on its co-primary endpoints of pain and function; and that these Ampio executive offers and senior staff did not fully report the results of the AP-013 trial and the timing of unblinding of data from the AP-013 trial.” On this news, Ampio’s share price fell by more than 35%, further damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Ampio common stock during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Ampio class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Ampio class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Ampio class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.