Legal Opinion
In re Egalet Corp.
District Court, E.D. Pennsylvania
Decided August 2, 2018No. CIVIL ACTION NO. 17-390PublishedCited by 28 opinions
1Opinion of the CourtBaylson, District Judge
I. Introduction
In this securities case, brought pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, a putative class of shareholders possessing shares of Egalet Corporation ("Egalet") alleges that three of Egalet's executives defrauded the class by failing to disclose that the FDA was likely to grant intranasal labeling exclusivity to a competitor's abuse-deterrent morphine drug. As a result, upon FDA approval of Egalet's own pain management drug, Egalet was not permitted to market its drug as effective at reducing intranasal opioid abuse, and when this news was…
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