NEW YORK, Oct. 20, 2020 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Evolus, Inc. (“Evolus” or the “Company”) (NASDAQ: EOLS) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Evolus between February 1, 2019 and July 6, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Evolus investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the real source of botulinum toxin bacterial strain as well as the manufacturing processes used to develop Jeuveau™ originated with and were misappropriated from Medytox; (2) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau™; (3) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; (4) which in turn seriously threatened Evolus’ ability to commercialize Jeuveau™ in the United States and generate revenue; and (5) any revenues generated from the sale of Jeuveau™ were based on Evolus’ unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Evolus during the Class Period should contact the Firm
prior to the December 15, 2020
lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at
[email protected]
or
[email protected]
.
Please visit our website at
http://www.gme-law.com
for more information about the firm.