NEW YORK, July 27, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at IntelliPharmaCeutics International Inc. ("IntelliPharmaCeutics" or the "Company") (NasdaqCM:IPCI).
The investigation focuses on whether the Company and its executives violated federal securities laws. Specifically, on July 24, 2017, U.S. Food and Drug Administration ("FDA") scientists expressed concerns that the Company failed to provide sufficient data regarding the abuse potential of its opioid painkilling drug, Rexista. Then, on July 26, 2017, the Company 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 drug's abuse-deterrent properties as a motivating concern.
Following these announcements, IntelliPharmaCeutics's share price declined significantly, causing harm to investors.
If you invested in IntelliPharmaCeutics stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/IPCI. There is no cost or obligation to you.
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