NEW YORK, NY / ACCESSWIRE / September 29, 2017 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against IntelliPharmaCeutics International Inc. ("IntelliPharmaCeutics" or the "Company") (NASDAQ: IPCI) and certain of its officers, on behalf of shareholders who purchased IntelliPharmaCeutics securities between January 14, 2016 and July 26, 2016, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/ipci.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
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) Intellipharmaceutics did not include abuse-deterrent studies conducted to suppose abuse-deterrent label claims related to abuse of the drug by various pathways; (3) Intellipharmaceutics was not submitting sufficient data to support approval of the NDA; and (4) consequently, defendants’ statements about the Company’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On July 27, 2017, the FDA published a report revealing that "The safety information collected in the pharmacokinetic studies was of limited value…" Following this news, Intellipharmaceutics stock dropped over 45% to close at $1.36 per share on July 27, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/ipci or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
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SOURCE: Bronstein, Gewirtz & Grossman, LLC