Evolus, Inc. Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Evolus, Inc. (“Evolus” or the “Company”) (NASDAQ: EOLS). The investigation focuses on whether whether Evolus has violated the federal securities laws and/or engaged in other unlawful business practices.
Evolus is a California based medical aesthetics company. The Company and its South Korean partner, Daewoong Pharmaceutical Co. (“Daewoong”) developed Jeuveau, a competitor to Allergan’s Botox. Jeuveau has recently become a strong, more affordable competitor of Botox.
On July 6, 2020, Judge David Shaw of the International Trade Commission issued a preliminary ruling in a trade secrets action accusing Evolus and Daewoong of having developed Jeuveau, using trade secrets stolen from Allergan’s partner company, Medytox. In a non-binding decision, the judge sided with Allergan and Medytox and recommended a 10-year ban on Jeuveau imports to the United States. On this news, shares of Evolus fell sharply, from $5.55 per share to close at $3.25 per share on July 7, 2020, representing a loss of more than 41%.
If you purchased or otherwise acquired Evolus securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.