IRVINE, Calif., Aug. 3, 2017 /PRNewswire/ -- Khang & Khang LLP (the "Firm") announces the filing of a securities class action lawsuit against IntelliPharmaCeutics International Inc. ("IntelliPharmaCeutics" or the "Company") (Nasdaq: IPCI). Investors who purchased or otherwise acquired shares between January 14, 2016 and July 26, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the September 29, 2017 lead plaintiff motion deadline.
If you purchased IntelliPharmaCeutics shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, IntelliPharmaCeutics made false and/or misleading statements and/or failed to disclose: that the Company failed to conduct a human abuse liability study to support its Rexista New Drug Application ("NDA"); that IntelliPharmaCeutics did not include abuse-deterrent studies conducted to suppose abuse-deterrent label claims related to abuse of the drug by various pathways; that the Company was not submitting sufficient data to support approval of the NDA; and that as a result of the above, the Company's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On July 24, 2017, scientists from the U.S. Food & Drug Administration ("FDA") expressed concerns that the Company failed to provide sufficient data about the abuse potential of its opioid painkilling drug, Rexista. On July 26, 2017, IntelliPharmaCeutics announced that two advisory committees of the FDA voted 22 to 1 to oppose the Company's New Drug Application for Rexista, citing insufficient data regarding the abuse-deterrent properties of the drug as a motivating concern. When this news was announced, the Company's share price declined materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at email@example.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
SOURCE Khang & Khang LLP