NEW YORK, May 16, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Intra-Cellular Therapies, Inc. ("Intra-Cellular" or the "Company") (NASDAQ: ITCI) and certain of its officers, on behalf of shareholders who purchased Intra-Cellular securities between August 12, 2014 and April 28, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/itci.
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 states that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) findings related to toxicity in animals treated with lumateperone (ITI-007) were observed; (2) these findings posed an additional safety concern regarding lumateperone; and (3) consequently, Intra-Cellular's public statements were materially false and misleading at all relevant times.
On August 4, 2016, Intra-Cellular's CEO Sharon Mates specified during an earnings call that "our studies to-date supports the efficacy and safety of ITI-007 for the treatment of schizophrenia." Then on May 1, 2017, Intra-Cellular revealed that U.S. Food and Drug Administration had requested further information to verify that the findings observed in nonclinical animal toxicology studies of lumateperone are not suggestive of a safety risk associated with long term exposure in humans. Following this news, Intra-Cellular stock dropped.
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/itci 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 Intra-Cellular you have until July 11, 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
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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