Defendant Name: Aegerion Pharmaceuticals, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Novelion Therapeutics Inc.
SIC Code: 2834
CUSIP: 67001K20

Initial Case Details

Legal Case Name SEC . Aegerion Pharmaceuticals, Inc.
First Document Date 22-Sep-2017
Initial Filing Format Civil Proceeding
Case Number 17-cv-11817
Allegation Type Issuer Reporting and Disclosure
Federal District Court Massachusetts, District of Massachusetts

Violations Alleged

Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 25-Sep-2017
Headline Total Penalty and Disgorgement $4,100,000

Related Documents:

comp-pr2017-175 22-Sep-2017 Complaint
Complaint
According to the SEC, "Beginning in or about 2013 and continuing to in or about 2014, Aegerion misled investors about a key sales metric known as the "='conversion rate' ... 5. Aegerion's misrepresentations improperly inflated the company's stock price. It was not until October 2014 that Aegerion disclosed to investors that the conversion rate was actually in the range of 50 to 60 percent. Even then, Aegerion failed to reveal to investors that the conversion rate had hovered at around 50 percent since 2013. By engaging in the conduct described in this Complaint, Aegerion violated Section 17(a)(2) and (3) of the Securities Act of 1933"
LR-23942 22-Sep-2017 Litigation Release
Pharmaceutical Company Paying Penalty for Misleading Investors about Sales Metric
According to the SEC, Aegerion Pharmaceuticals, Inc. "exaggerated how many new patients actually filled prescriptions for an expensive drug that was its sole source of revenue."
court-doc5_17-cv-11817 25-Sep-2017 Court Docket Document
Final Judgment as to Defendant Aegerion Pharmaceuticals, Inc.
On September 25, 2017, a final judgement was entered in this case.