Cases
IntelliPharmaCeutics International, Inc. (NASDAQ: IPCI)
Securities Class Action
Overview
Overview
- Date:
- 8/8/2017
- Company Name:
- IntelliPharmaCeutics International, Inc.
- Stock Symbol:
- IPCI
- Class Period:
- FROM 1/14/2016 TO 7/26/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, August 8, 2017 – Bragar Eagel & Squire, P.C. reminds investors 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 IntelliPharmaCeutics International, Inc. (NASDAQ: IPCI) securities between January 14, 2016 and July 26, 2017 (the “Class Period”). Investors have until September 29, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Intellipharmaceutics failed to conduct a human abuse liability study to support its Rexista New Drug Application (“NDA”); (2) the Company did not include abuse-deterrent studies conducted to suppose abuse-deterrent label claims related to abuse of the drug by various pathways; (3) the Company was not submitting sufficient data to support approval of the NDA; and (4) as a result, Defendants’ statements about Intellipharmaceutics’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On July 27, 2017, shares of Intellipharmaceutics fell when the FDA released a report disclosing that “The safety information collected in the pharmacokinetic studies was of limited value…”
If you purchased or otherwise acquired Intellipharmaceutics 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.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Intellipharmaceutics failed to conduct a human abuse liability study to support its Rexista New Drug Application (“NDA”); (2) the Company did not include abuse-deterrent studies conducted to suppose abuse-deterrent label claims related to abuse of the drug by various pathways; (3) the Company was not submitting sufficient data to support approval of the NDA; and (4) as a result, Defendants’ statements about Intellipharmaceutics’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On July 27, 2017, shares of Intellipharmaceutics fell when the FDA released a report disclosing that “The safety information collected in the pharmacokinetic studies was of limited value…”
If you purchased or otherwise acquired Intellipharmaceutics 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.