Cases
Insys Therapeutics, Inc. (NASDAQ: INSY)
Securities Class Action
Overview
Overview
- Date:
- 3/15/2017
- Company Name:
- Insys therapeutics, Inc.
- Stock Symbol:
- INSY
- Class Period:
- FROM 2/23/2016 TO 3/15/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, March 15, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Insys Therapeutics, Inc. (NASDAQ: INSY) securities between February 23, 2016 and March 15, 2017 (the “Class Period”). Investors have until May 16, 2017, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On March 15, 2017, Insys disclosed that it would delay the release of its financial results for the fourth quarter and full year 2016 in order to complete an independent review of the Company’s processes related to sales allowances and extended payment terms. The company further disclosed that the review could result in a reduction of 2015 net revenue and pre-tax income.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and failed to disclose that (1) Insys overstated its 2015 net revenue; (2) Insys misstated its sales allowances for 2016; and (3) the Company lacked effective internal controls over financial reporting.
If you purchased or otherwise acquired Insys securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On March 15, 2017, Insys disclosed that it would delay the release of its financial results for the fourth quarter and full year 2016 in order to complete an independent review of the Company’s processes related to sales allowances and extended payment terms. The company further disclosed that the review could result in a reduction of 2015 net revenue and pre-tax income.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and failed to disclose that (1) Insys overstated its 2015 net revenue; (2) Insys misstated its sales allowances for 2016; and (3) the Company lacked effective internal controls over financial reporting.
If you purchased or otherwise acquired Insys securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.