Defendant Name:
Aegerion Pharmaceuticals, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Novelion Therapeutics Inc.
SIC Code:
2834
CUSIP:
67001K20
Document Reference:
comp-pr2017-175
Document Details
Legal Case Name
SEC v. Aegerion Pharmaceuticals, Inc.
Document Name
Complaint
Document Date
22-Sep-2017
Document Format
Civil Proceeding
Case Number
17-cv-11817
Federal District Court
Massachusetts, District of Massachusetts
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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"
