NEW YORK, Aug. 30, 2016 /PRNewswire/ -- Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of Insys Therapeutics, Inc. (NASDAQ: INSY).
After the close of the market on April 24, 2015 the Southern Investigating Report Foundation ("SIRF") published an article reporting on patients who either died or suffered adverse events while being treated with Subsys, and detailed how Insys aggressively marketed Subsys. On this news, the price of Insys's shares declined $6.00 per share, or nearly 10%, to close at $56.42 per share on April 27, 2015.
Further, on January 25, 2016, SIRF published an article alleging that Insys's executives have continued to pressure Company employees to develop new schemes to promote the illegal and improper off-label marketing and sale of Subsys. On this news, the price of the Company's shares declined an additional $1.07 per share, or nearly 5%, to close at $21.58 per share on January 25, 2016.
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SOURCE Purcell Julie & Lefkowitz LLP