Investors with losses in excess of $1,000,000 are encouraged to contact the firm before December 15, 2020; click here to submit trade information
LOS ANGELES, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Evolus, Inc. (NASDAQ:EOLS) investors that acquired shares between February 1, 2019 and July 6, 2020. Investors have until December 15, 2020 to seek an active role in this litigation.
The fraud allegations focus on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Specifically, whether the Company concealed from investors an alleged plot to develop its Jeuveau product using stolen trade secrets.
On July 6, 2020 an International Trade Commission judge issued a preliminary ruling on trade secrets action involving Evolus. The non-binding decision sided with Allergan and its partner Medytox in finding that the Company and its South Korean partner firm Daewoong stole trade secrets . The judge recommended a 10-year ban on the importation of Jeuveau into the United States. Based on this news, shares of Evolus dropped by 41% on July 7, 2020.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 15, 2020.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.