NEW YORK, Dec. 6, 2019 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit filed on behalf of investors who purchased or acquired shares of Lipocine Inc. ("Lipocine" or the "Company") (NASDAQ: LPCN) from March 27, 2019 to November 8, 2019, inclusive (the "Class Period"). The lawsuit filed in the United States District Court for the District of Utah alleges violations of the Securities Exchange Act of 1934.
If you purchased Lipocine securities, and/or would like to discuss your legal rights and options please visit LPCN Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the results from Lipocine's clinical studies of TLANDO were insufficient to demonstrate the drugs efficacy; (ii) accordingly, Lipocine's third NDA for TLANDO was highly likely to be found deficient by the FDA; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
On November 11, 2019, Lipocine issued a press release announcing receipt of a CRL from the FDA regarding its NDA for TLANDO. In the press release, Lipocine advised investors that the FDA had again rejected the NDA for TLANDO this time because an efficacy trial had not met three of its secondary endpoints. On this news, Lipocine's stock price fell $1.93 per share, or 70.7%, to close at $0.80 per share on November 11, 2019.
If you purchased Lipocine securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/lipocineinc-lpcn-shareholder-class-action-lawsuit-stock-fraud-218/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than January 14, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE Bernstein Liebhard LLP