Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Arizona on behalf of investors who purchased INSYS Therapeutics, Inc. (“INSYS” or the “Company”) (Nasdaq: INSY) securities between March 3, 2015 and January 25, 2016.
The complaint alleges that INSYS made materially false and misleading statements to investors and/or failed to disclose that: (i) the Company was engaged in the illegal and improper off-labeling marketing of Subsys, a cancer pain treatment; (ii) certain INSYS employeeswere complicit in an illegal kickback scheme operated for the purpose of increasing prescriptions of Subsys; and (iii) as a result, the Company’s financial statements were materially false and misleading at all relevant times. On January 25, 2016, the Southern Investigating Report Foundation published an article entitled “The Brotherhood of Thieves: Insys Therapeutics,” alleging that INSYS pressured employees to develop new schemes to promote the illegal and inappropriate off-label use and sale of Subsys. If you suffered a loss in INSYS you have until April 4, 2016 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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