Abraham, Fruchter & Twersky, LLP Announces That the United States Supreme Court Allows Claims in the AMAG Pharmaceuticals, Inc.

  Abraham, Fruchter & Twersky, LLP Announces That the United States Supreme
  Court Allows Claims in the AMAG Pharmaceuticals, Inc. Class Action Lawsuit
  to Proceed

Business Wire

NEW YORK -- October 17, 2013

Abraham, Fruchter & Twersky, LLP announces that on October 7, 2013, the United
States Supreme Court denied a petition by AMAG Pharmaceuticals, Inc. (“AMAG”
or the “Company”)(NASDAQ:AMAG) for a Writ of Certiorari to appeal a decision
by the United States Court of Appeals for the First Circuit (the “Court of
Appeals”) allowing plaintiffs’ claims to go forward in the litigation entitled
Silverstrand Investments v. AMAG Pharmaceuticals, Inc., et al., Case No. 10
CIV 10470, pending in the United States District Court for the District of
Massachusetts.

This case is a class action lawsuit on behalf of investors who purchased AMAG
common stock in the Company’s secondary public offering (“Secondary Offering”)
on or about January 21, 2010. The complaint alleges that the Company and
certain officers violated the Securities Act of 1933 by failing to disclose
adverse reactions to the Company’s primary drug Feraheme that occurred prior
to the Secondary Offering. On August 15, 2011, the District Court dismissed
all of the plaintiffs’ claims. Plaintiffs appealed, and on February 4, 2013,
the Court of Appeals reversed the District Court’s decision in part. The Court
of Appeals concluded that the Complaint stated claims of actionable omissions
because “the 23 undisclosed reports of serious adverse effects linked to
Feraheme gave rise to (1) uncertainties AMAG reasonably knew would adversely
affect future revenues, and (2) risk factors that made the Offering risky and
speculative.” AMAG attempted to reverse the Court of Appeal’s decision by
petitioning the Supreme Court to hear the case. However, on October 7, 2013,
the Supreme Court denied AMAG’s petition for a Writ of Certiorari, thus
allowing the case to proceed.

Plaintiffs continue to seek the recovery of damages suffered on behalf of all
purchasers of AMAG’s common stock in the Secondary Offering. The plaintiffs
are represented by Abraham, Fruchter & Twersky, LLP which has extensive
experience in litigating securities class action lawsuits, having been ranked
among the leading class action law firms in terms of recoveries achieved by a
survey of class action law firms conducted by Institutional Shareholder
Services.

If you would like to discuss this action or if you have any questions
concerning this notice or the progress of this case, you may contact: Jack
Fruchter of Abraham, Fruchter & Twersky, LLP at 212-279-5050, or via e-mail at
jfruchter@aftlaw.com.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Contact:

Abraham, Fruchter & Twersky, LLP
Jack Fruchter, Esq., 212-279-5050
 
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