Cases
Intra-Cellular Therapies, Inc. (NASDAQ: ITCI)
Securities Class Action
Overview
Overview
- Date:
- 5/16/2017
- Company Name:
- Intra-Cellular Therapies, Inc.
- Stock Symbol:
- ITCI
- Class Period:
- FROM 8/12/2015 TO 4/28/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern District of New York
NEW YORK, May 16, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who acquired Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) securities between August 12, 2015 and April 28, 2017 (the “Class Period”).
The Complaint states that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) findings related to toxicity in animals treated with lumateperone (ITI-007) were observed; (2) these findings posed an additional safety concern regarding lumateperone; and (3) consequently, Intra-Cellular's public statements were materially false and misleading at all relevant times.
On August 4, 2016, Intra-Cellular's CEO Sharon Mates specified during an earnings call that "our studies to-date supports the efficacy and safety of ITI-007 for the treatment of schizophrenia." Then on May 1, 2017, Intra-Cellular revealed that U.S. Food and Drug Administration had requested further information to verify that the findings observed in nonclinical animal toxicology studies of lumateperone are not suggestive of a safety risk associated with long term exposure in humans. Following this news, Intra-Cellular stock dropped.
If you purchased or otherwise acquired Intra-Cellular securities during the Class Period and suffered a loss 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 states that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) findings related to toxicity in animals treated with lumateperone (ITI-007) were observed; (2) these findings posed an additional safety concern regarding lumateperone; and (3) consequently, Intra-Cellular's public statements were materially false and misleading at all relevant times.
On August 4, 2016, Intra-Cellular's CEO Sharon Mates specified during an earnings call that "our studies to-date supports the efficacy and safety of ITI-007 for the treatment of schizophrenia." Then on May 1, 2017, Intra-Cellular revealed that U.S. Food and Drug Administration had requested further information to verify that the findings observed in nonclinical animal toxicology studies of lumateperone are not suggestive of a safety risk associated with long term exposure in humans. Following this news, Intra-Cellular stock dropped.
If you purchased or otherwise acquired Intra-Cellular securities during the Class Period and suffered a loss 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.