Glancy Prongay & Murray Investigates Claims on Behalf of Insys Therapeutics, Inc. Investors
10 February 2016 - 2:30AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) is investigating
potential claims on behalf of investors of Insys Therapeutics, Inc.
("Insys" or the "Company") (NASDAQ: INSY) concerning the Company
and its officers’ possible violations of federal securities laws in
connection with the alleged off-label marketing of Subsys.
The investigation concerns whether the Company was engaged in
the illegal and improper off-labeling marketing of its product
Subsys; and, whether certain Insys employees—including former Insys
President and Chief Executive Officer, Michael L. Babich—were
complicit in an illegal kickback scheme operated for the purpose of
increasing prescriptions of Subsys.
On April 24, 2015, the Southern Investigating Report
Foundation ("SIRF") released an article entitled "Insys
Therapeutics and the New 'Killing It,'" which reported that many
patients being treated with the Company's Subsys product had died
or were suffering from injuries connected to Subsys. On this
news, the Company’s stock fell approximately $6.00 per
share.
Then on December 3, 2015, SIRF published another article
pertaining to Insys entitled "Murder Incorporated: Insys
Therapeutics, Part I". In their report SIRF asserted that the
Company operated a deceptive scheme in order to bolster the illegal
off-label marketing and sale of Subsys. On this news, shares
of Insys fell approximately $5.93 per share.
On January 25, 2016, SIRF published a third article
concerning the Company and its misconduct, entitled "The
Brotherhood of Thieves: Insys Therapeutics". This report shed more
light on the off-label marketing scandal by asserting that Insys
executives had been pressuring employees to promote the off-label
marketing and sale of Subsys. Upon this news, the Company
stock fell an additional $1.07 per share.
If you purchased Insys securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160209005221/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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