GlobeNewswire Inc | Oct 19, 2020 11:51AM EDT

October 19, 2020

PHILADELPHIA, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Evolus, Inc. (Evolus or the Company) (NASDAQ: EOLS) to determine whether the Company engaged in securities fraud or other unlawful business practices.

Evolus investors who purchased, or otherwise acquired, the Companys securitiesbetween February 1, 2019 and July 6, 2020, both dates inclusive (the Class Period),and suffered losses greater than $50,000 are encouraged to complete Kehoe Law Firms Securities Class Action Questionnaire or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, securities@kehoelawfirm.com, to discuss thesecurities investigation or potential legal claims.

A class action lawsuit was filed against Evolus and certain of its officers in United States District Court, Southern District of New York, seeking to recover damages for investors caused by the Evolus Defendants alleged violations of federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

According to the class action complaint, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Companys business, operational, and compliance policies.

The Evolus Defendants, according to the class action complaint, made false and/or misleading statements and failed to disclose to investors that: (i) the real source of botulinum toxin bacterial strain, as well as the manufacturing processes used to develop Jeuveau, originated with and were misappropriated from Medytox; (ii) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau; (iii) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau; which, in turn, (iv) seriously threatened Evolus ability to commercialize Jeuveau in the United States and generate revenue; and (v) any revenues generated from the sale of Jeuveau were based on Evolus unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiffside law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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