|By Marketwired .||
|July 7, 2014 06:52 PM EDT||
NEW YORK, NY -- (Marketwired) -- 07/07/14 -- The Rosen Law Firm, P.A. reminds purchasers of INSYS Therapeutics, Inc. (NASDAQ: INSY) securities between May 1, 2013 and May 8, 2014, of the important July 14, 2014 lead plaintiff deadline in the class action filed by the firm.
To join the INSYS class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email at [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the Complaint, the Company failed to disclose and/or materially misstated its true financial and business condition because: (i) the Company engaged in illegal and/or unethical off label marketing of Subsys®; (ii) the Company was exposed to potential fines and other disciplinary actions as a result of its Subsys marketing practices; and, (iii) as a result, the Company's financial statements were materially false and misleading at all relevant times.
On December 12, 2013, after the market closed, the company announced that, "it has received a subpoena from the Office of Inspector General of the Department of Health and Human Services ("HHS") in connection with an investigation of potential violations involving HHS programs. The subpoena requests documents regarding Subsys, including INSYS' sales and marketing practices relating to this product." This caused the Company's shares to fall $7.73 per share, or over 17%.
On May 8, 2014, a news source published an article detailing charges against a Michigan doctor who allegedly accounted for 20% of total nationwide Subsys prescriptions. The doctor was charged by federal prosecutors with defrauding Medicare, private insurers, and prescribing unnecessary medications to patients. This caused the Company's shares to fall $6.64 per share, or over 16%.
On May 11, 2014, analyst firm, Bronte Capital, published a report further highlighting the claims against the Michigan doctor, and the problems attendant to INSYS' marketing of Subsys, including allegedly illegal off-label marketing. This caused INSYS shares to fall $5.04 per share, or 15%.
If you wish to serve as lead plaintiff, you must move the Court no later than July 14, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at [email protected]. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Oct. 27, 2016 04:30 PM EDT Reads: 387
Oct. 27, 2016 04:30 PM EDT Reads: 1,333
Oct. 27, 2016 04:15 PM EDT Reads: 3,264
Oct. 27, 2016 04:15 PM EDT Reads: 1,544
Oct. 27, 2016 04:00 PM EDT Reads: 594
Oct. 27, 2016 03:15 PM EDT Reads: 539
Oct. 27, 2016 02:30 PM EDT Reads: 590
Oct. 27, 2016 02:17 PM EDT Reads: 218
Oct. 27, 2016 01:48 PM EDT Reads: 268
Oct. 27, 2016 01:45 PM EDT Reads: 990
Oct. 27, 2016 01:45 PM EDT Reads: 1,147
Oct. 27, 2016 01:45 PM EDT Reads: 3,995
Oct. 27, 2016 01:45 PM EDT Reads: 1,596
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 27, 2016 01:30 PM EDT Reads: 2,271
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 27, 2016 01:15 PM EDT Reads: 5,082