Evolus, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Evolus, Inc.
Date Filed:October 16th, 2020
Sector:Health Care
Industry:Major Pharmaceuticals
Class Start Date:February 1st, 2019
Class End Date:July 6th, 2020

According to the Complaint, Evolus, Inc. is a medical aesthetic company formed with the sole aim to develop and introduce a cheaper alternative to Botox® to the U.S. market.

The Complaint alleges that Evolus made false and misleading statements to the public throughout the Class Period and failed to disclose that: (1) 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; (2) 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™; (3) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; (4) which in turn seriously threatened Evolus' ability to commercialize Jeuveau™ in the United States and generate revenue; and (5) 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.

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First Identified Complaint

Armin Malakouti, et al. v. Evolus, Inc., et al.

Date Filed:October 16th, 2020
Class Period Start:February 1st, 2019
Class Period End:July 6th, 2020
First Identified Complaint Filings
#Document TitleFiling Date