San Diego, CA -- (ReleaseWire) -- 04/21/2014 -- An investigation on behalf of current long-term investors in shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) was announced concerning potential breaches of fiduciary duties that caused damages to the company and NASDAQ:AMAG stockholders
Investors who purchased shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) in early 2010 or earlier and currently hold any of those NASDAQ:AMAG shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
AMAG Pharmaceuticals, Inc currently faces a lawsuit over alleged securities laws violations. The investigation by a law firm concerns whether certain of its officers and directors of AMAG Pharmaceuticals, Inc have breached their fiduciary duties owed to NASDAQ:AMAG stockholders.
In December 2012, AMAG Pharmaceuticals, Inc submitted to the U.S. Food and Drug Administration (the "FDA") a supplemental New Drug Application (the "sNDA") under section 505(b) of the Federal Food, Drug, and Cosmetic Act for Feraheme (ferumoxytol) Injection, 510 mg.
Then in May 2013, AMAG Pharmaceuticals, Inc announced that it has been made aware by Takeda Pharma AG, the exclusive product distributor of ferumoxytol in Switzerland, that it is recalling one specific batch of Rienso® (ferumoxytol) from the Swiss market. In September 2013, the Company received a notification from the FDA stating that, as part of its ongoing review of the Company's sNDA, the FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments by September 23, 2013, a target date previously communicated by the FDA in a letter dated March 5, 2013. On September 25, 2013 AMAG Pharmaceuticals, Inc announced in an Securities and Exchange Commission (“SEC”) filing, information regarding the FDA notification received on September 23, 2013.
Shares of AMAG Pharmaceuticals, Inc closed on April 16, 2014, at $17.88 per share, which is significantly below its current 52 week high of $28.42 per share.
Those who purchased shares of AMAG Pharmaceuticals, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego