Intellipharmaceutics International Inc. Loss Submission Form
Levi & Korsinsky, LLP announces it has filed a class action complaint in the USDC for the Southern District of New York on behalf of shareholders of Intellipharmaceutics International Inc. (NASDAQ: IPCI) who purchased shares between May 21, 2015 and July 26, 2017.
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 support 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 suffered a loss in Intellipharmaceutics you have until September 29, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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