GlobeNewswire Inc | Nov 1, 2021 04:37PM EDT

November 01, 2021

NEW YORK, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Avadel Pharmaceuticals plc (Avadel or the Company) (NASDAQ:AVDL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Avadel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On October 15, 2021, Avadel issued a press release announc[ing] . . . that the U.S. Food and Drug Administration (FDA) notified the company that the review of the New Drug Application (NDA) for FT218, Avadels proposed narcolepsy treatment, is still ongoing, and action will likely not be taken in October. The FDA informed the company that there are no information requests at this time and a new target action date will be provided as soon as possible.

On this news, Avadels stock price fell $1.54 per share, or 15.42%, to close at $8.45 per share on October 18, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980